A man sells a sofa at a gain of . Had he sold it for Rs.490 less, he would have lost . The cost price of the sofa is Rs.[[1]].

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A man sells a sofa at a gain of . Had he sold it for Rs.490 less, he would have lost . The cost price of the sofa is Rs.[[1]].

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Detailed Solution

Concept- The cost price of the sofa is Rs 7000.
The query has to do with gain and loss. The question includes the selling price as well as the percentage gain or loss from selling the sofa. The cost price must be set at x. Utilize the cost price and selling price formula.
Let's say the sofa's cost is x.
Since we already know that the selling price of a sofa equals its cost plus a profit, we can now answer the question in accordance with the first condition stated, which is
A man makes a 5% profit when he sells a sofa.
Adding the values to the formula now

Solving the equation, we get

Second condition
Loss of

According to the question
Difference in two selling prices

The difference between two selling prices is 490

Divide the numerator by denominator

So now we have the value of

Hence, the cost price of the sofa is Rs. 7000

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