A merchant buys two articles for Rs.600. He sells one of them at a profit of 22% and the other at a loss of 8% and makes no profit or loss in the end. What is the selling price of the article that he sold at a loss ?
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Answer: The selling price of the article that he sold at a loss would be Rs404.8.
Step-by-step explanation:
Suppose cost price of article 1= Rs x
Cost price of article 2= 600-x
Profit in selling article 1= 22% of x= 0.22x
Loss in selling article 2= 8% of (600-x)= 0.08(600-x)= 48-0.08x
Since the merchant makes no profit or loss, it means profit in first case would be equal to loss in second case.
Profit= Loss
0.22x= 48-0.08x
0.22x+0.08x=48
0.3x=48
x=160
So,
Cost of article 2 that he sold at a loss= 600-x=600-160= 440
Selling price of article 2= 440-(48-0.08x)= 440-48+0.08*160
= 392+12.8
=404.8
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