Profit and Loss

Question

A bucket was sold at a loss of 8%.Had it been sold for Rs. 56 more  there would have been a gain of 8%. What is the cost price of the bucket?  

Answer 1

P = .92OP

price sold = 92%of the original price incurring an 8% loss

.92OP + 56 = 1.08OP = profit of 8% over the original price

1.08OP - 0.92OP = 56

0.16OP = 56

OP = 56/.16 = 350 Rs = original price