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A man sold his furniture at a 25% gain. Had he sold at 15% loss. He would have received ₹ 800 less. Find cost price of the furniture.
1. Rs. 1,500
2. Rs. 3,000
3. Rs. 2,000
4. Rs 2,500

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Correct Answer - Option 3 : Rs. 2,000

Given :

A man sold his furniture at 25% gain.

Had he sold at 15% loss he would have received Rs.800 less 

Concept used :

Profit = selling price - cost price = profit % on cost price 

Loss = cost price - selling price = loss % on cost price  

Calculations :

Let the cost price of the item be 100x 

Selling price at 25% profit = cost price + profit 

⇒ cost price + 25% of 100x 

⇒ 100x + 25x = 125x 

Selling price at 15% loss = cost price - loss

⇒ 100x - 15% of 100x 

According to the question 

125x - 85x = 800 

⇒ 40x = 800 

⇒ x = 20 

⇒ cost price = 100x 

⇒ 100 × 20 = 2000 rupees 

∴ Cost price of the furniture is 2000 rupees 

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