Question

Ava and Eve sold their rings for the same price. Ava calculated her profit percentage
with respect to cost price and Eve calculated her profit percentage with respect to selling
price. If the profit percentage calculated by both is 20% each, and the difference between
the profit earned by them is Rs. 200, what is the cost price of the ring owned by Ava?
a) Rs. 4800
b) Rs. 5000
c)Rs. 60000
d) Rs. 720o
​

Answer 1

Concept Introduction: Profit and Loss are part of any business.

Given:

We have been Given: Ava and Eve's profit percentage is

$20\%$

Difference between the profit earned by them is

$rs.200$

To Find:

We have to Find:

What is the cost price of the ring owned by Ava?

1. Rs. 4800
2. Rs. 5000
3. Rs. 60000
4. Rs. 7200

Solution:

According to the problem, Since both has equal profit percentage and the difference is some rupees, therefore,

$200 = \frac{p\% \times cp \: of \: ava}{100} - \frac{p\% \times sp \: of \: eve}{100} \\ 200 = \frac{20}{100} \times (cp \: of \: ava - sp \: of \: eve) \\ 1000 = cp \: of \: ava - sp \: of \: eve$

Since selling price of Ava and Eve were equal, therefore,

$1000 = sp \: of \: ava - cp \: of \: ava = profit \: of \: ava \\ 1000 = \frac{20 \times cpa}{100} \\ cpa = \frac{1000 \times 100}{20} \\ cpa = rs.5000$

Final Answer: The cost price of Ava is

$rs.5000$

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