A man sells an item at a 10% loss. If he had sold it for 100 more, he would have gained 10%. What is the cost price?
Q1. A man sells an item at a 10% loss. If he had sold it for 100 more, he would have gained 10%. What is the cost price?
Answer: 500
Explanation: Let the cost price be x. Then, (x - 0.1x) + 100 = x + 0.1x. So, 0.9x + 100 = 1.1x. 100 = 1.1x - 0.9x = 0.2x. x = 100 / 0.2 = 500.