On selling 17 “Lays” at Rs. 720, there is a loss equal to the cost price of 5 “Lays”. The cost price of a “Lays” is:45505560
Question
On selling 17 “Lays” at Rs. 720, there is a loss equal to the cost price of 5 “Lays”. The cost price of a “Lays” is:
45505560
Solution
Let's solve this step by step:
Step 1: According to the problem, the loss on selling 17 Lays is equal to the cost price of 5 Lays. Let's assume the cost price of one Lay is Rs. x. So, the cost price of 5 Lays would be 5x.
Step 2: The total cost price of 17 Lays would be 17x (since the cost price of one Lay is x).
Step 3: Given that the selling price of 17 Lays is Rs. 720 and there is a loss of 5x, we can set up the following equation according to the rule that "Cost Price = Selling Price + Loss".
So, 17x = 720 + 5x
Step 4: Simplify the equation to find the value of x.
17x - 5x = 720 12x = 720
Step 5: Solve for x.
x = 720 / 12 x = 60
So, the cost price of a Lay is Rs. 60.
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