Question

A shopkeeper bought two items at ₹ 450 each. He sold one at loss of 10%. At what price should he sell the other so as to gain 20% on the whole transaction?
TOPIC : PROFIT OR LOSS
SUBJECT: MATHS ​

Answer 1

Answer:

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Given:

A shopkeeper bought two items at 450 each

He sold one item at 10% loss

To find:

At what price should he sell the other as to gain 20% on the whole transaction?

Solution:

Let "x" represents the selling price of the other item.

The total cost price of the two items = Rs. 450 × 2 = Rs. 900

We will use the following formula:

\begin{gathered}\boxed{\bold{S.P. = \frac{100 - L\%}{100}\times C.P. }}\\\\\boxed{\bold{S.P. = \frac{100 + G\%}{100}\times C.P. }}\end{gathered}S.P.=100100−L%×C.P.S.P.=100100+G%×C.P.

Using the above formula, we get,

∴ The S.P. of the first item is,  

= \frac{100 - 10}{100} \times 450100100−10×450

= \frac{90}{100}\times 45010090×450

= 0.9\times 4500.9×450

= Rs.\:405Rs.405

and

∴ The total S.P. of the two items is,

= \frac{100 + 20}{100} \times 900100100+20×900

= \frac{120}{100}\times 900100120×900

= 1.2\times 9001.2×900

= Rs.\:1080Rs.1080

Now,

The S.P. of the other item should be,

= [Total S.P. of the two items] - [S.P. of the first item]

= [Rs. 1080] - [Rs. 405]

= Rs. 675

Thus, the shopkeeper should sell the other at Rs. 675 so as to gain 29% on the whole transaction.

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Answer 2

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Full Explanation