Question

A trader bought two articles for Rs.490. He sold one at a loss of 20% and the other at a profit of 16%. If the selling price of both articles is same, then the cost price (in Rs.) of the article sold at 20% loss is:
1. 300
2. 280
3. 310
4. 290

Answer 1

Correct Answer - Option 4 : 290

Given:

Cost price of articles = Rs.490

Loss % = 20%

Profit % = 16%

Formula:

Loss % = (CP - SP)/CP × 100

Profit % = (SP - CP)/CP × 100

Calculation:

Let cost price of one article be Rs.a and cost price of two article be Rs.(490 - a).

Selling price of one article = a × 80/100 = Rs.4a/5

Selling price of other article = (490 - a) × 116/100 = Rs.(568.4 - 29a/25)

Then,

⇒ 4a/5 = 568.4 - 29a/25

⇒ 49a/25 = 568.4

⇒ a = 290

∴ Cost price of article which sold at loss of 20% is Rs.290.