Question

A Shopkeeper buys two T.v. sets of the same type. He sells one of them at a profit of 20 percent on the other find his gain or loss percent.
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Answer 1

Answer:

The cost price of a TV set is ₹ 2800.

Step-by-step explanation:

Let the cost of one TV set be x.

Find the selling price of the one that was sold at a profit of 20%:

profit = 20% of x = 0.2x

Selling price = x + 0.2x = 1.2x

Find the selling price of the one that was sold at a loss of 5%:

Loss = 5% of x = 0.05x

Selling Price = x - 0.05x = 0.95x

Solve x:

Difference in the selling price in term of x = 1.2x - 0.95x = 0.25x

Difference in the selling price = ₹700 (Given)

0.25x = ₹ 700

x = 700 ÷ 0.25

x = ₹ 2800

Answer: The cost price of a TV set is ₹ 2800.

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