The profit earned by selling an item for ₹ 1675 is equal to the loss incurred by selling it for ₹ 1025. What is the cost price of the item?
₹ 1350
₹ 1350 is correct.
If the profit at one selling price equals the loss at another, the cost price lies exactly midway between the two selling prices, that is, it is their mean.
Let the cost price be C. Gain at ₹ 1675 = \(1675-C\); loss at ₹ 1025 = \(C-1025\).
\(1675-C=C-1025\Rightarrow 2C=2700\).
\(C=\dfrac{2700}{2}=1350\).
Hence, the cost price is ₹ 1350.
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