Question

Vineet calculates his profit percentage on the selling price while Roshan calculates his profit on the cost price. They find that the difference of their profits is Rs. 275. If the selling prices for both of them are the same, Vineet gets 25% profit and Roshan gets 15% profit. Then the selling price will be

1. Rs. 2100
2. Rs. 2300
3. Rs. 2250
4. None of these

Answer 1

Correct Answer - Option 2 : Rs. 2300

Given

Vineet's profit = 25%

Illumination benefit = 15%

The selling price is the same for both

Difference between their profit = Rs. 275 

Formula used

Profit(P) = Selling Price(SP) - Cost Price(CP)

Profit % = (P/CP) × 100

Profit % on SP = (P/SP) × 100

Calculation
Vineet calculates his profit on the selling price

⇒ Profit = 25% of SP

Roshan calculates his profit on the cost price

⇒ Profit = 15% of CP 

SP = CP + P = CP + 15% of CP

⇒ SP = 115% of CP

Profit on SP = (15/115) × 100 = (300/23)%

Difference of their profit = Rs. 275

⇒ 25% of SP - (300/23)% of SP = 275

\(⇒ ({25 \over 100})SP - ({300\over 23 \times 100})SP = 275 \)

\(⇒ ({1 \over 4})SP - ({3 \over 23}) SP = 275\)

\(⇒ ({11 \over 92})SP = 275\)

⇒ SP = Rs. 2300

∴ The selling price is Rs. 2300
⇒(1192)SP=275⇒(1192)SP=275 ⇒(1192)SP=275