Correct Answer - Option 2 : Rs. 1500 and Rs. 2000
Given:
Cost price of both articles = Rs.3500
Profit gained from first article = 20%
Loss from 2nd article = 10%
Formula Used:
Profit% = Profit/CP × 100
Loss% = Loss/CP × 100
Calculation:
Let the cost price of first article be 100x and cost price of second article be 100y.
Selling price for first article = 120/100 × 100x = 120x
Selling price for second article = 90/100 × 100y = 90y
So, 120x = 90y
⇒x = 3y/4 ----eq. 1
And total cost price = 100x + 100y = 3500
⇒ x + y = 35 ----eq.2
From eq.1 and eq.2 by substituting values
We get, x = 15 and y = 20
CP of first article = 100 × 15 = Rs. 1500
CP of second article = 100 × 20 = Rs. 2000
∴ CP of first and second article are Rs. 1500 and Rs. 2000 respectively.