Correct Answer - Option 3 : 28 : 11
Given:
The price of an article x in 2010 was double the price of another article y.
In 2012, the prices of article x and y went up by 40% and 10% respectively.
The ratio of the prices of x and y in the year 2012 was 24 : 11.
Formula used:
Profit or Gain = Selling price – Cost Price
Loss = Cost Price – Selling Price
Profit percentage = (Profit /Cost Price) × 100
Loss percentage = (Loss / Cost price) × 100
Calculation:
Let the price of X in 2010 be 2x and the price of Y in 2010 be x.
In 2012, price of X = 1.4 × 2x = 2.8x
In 2012, price of Y = 1.1 × x = 1.1x
The ratio of the prices of x and y in the year 2012 = 28 : 11
∴ required ratio is 28 : 11
