Question

A person bought two articles for Rs. 3500. He sold first article at a profit of 20% and second article at a loss of 10%. If the selling prices of both the articles are same then find the cost price of both the articles. 
1. Rs. 500 and Rs. 3000
2. Rs. 1500 and Rs. 2000
3. Rs. 1000 and Rs. 2500
4. Rs. 1750 and Rs. 1750

Answer 1

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.