The profit earned by selling a chair for Rs. 752 is 1.2 times the loss incurred when the same chair was sold for Rs. 400. What is the cost price of the chair?

ARs. 540

BRs. 592

CRs. 560 ✓ Correct

DRs. 640

Correct answer: (C) Rs. 560

Explanation

The cost price is Rs. 560.

Profit at Rs. 752 = 752 - CP; loss at Rs. 400 = CP - 400.

Given profit = 1.2 x loss: 752 - CP = 1.2(CP - 400).

752 - CP = 1.2CP - 480, so 1232 = 2.2CP.

CP = 1232 / 2.2 = Rs. 560.

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