Question : On selling a table for Rs. 210 and Rs. 420 there will be a loss of $L_1 \%$ and $L_2 \%$ respectively. If $L_1-L_2=7$, then what is the cost price of the table:
Option 1: Rs. 5,000
Option 2: Rs. 3,000
Option 3: Rs. 7,000
Option 4: Rs. 4,000
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Correct Answer: Rs. 3,000
Solution :
Given: $SP_1=210$
$SP_2=420$
Here, the cost price is denoted by CP and the selling price is denoted by SP.
Difference between Selling Prices = 420 – 210 = 210
If there is a loss and $L_1-L_2=7$
Then, 7% of cost price (Loss) = Difference between the selling prices
$⇒\frac{7}{100} \times CP = 210$
$⇒CP = 3000$
Hence, the correct answer is Rs. 3,000.
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