Joey purchased two cars for a total of Rs 80 lakhs. Later on, he sold the first car at the rate of 16% profit and the second car at a 32% profit, thereby he gained 20%. What is the selling price of the first car?
Answers
In the first case he gains 10%
∴ C. P. of the first car
=
110
100×9900
=Rs.9000
In the second case he loses 10%
∴ C. P. of the second car
=
90
100×9900
=Rs.11000
∴ Total cost of both cars
=9000+11000=Rs.20000
∴ Total S. P. of both cars
=2×9900=Rs.19800
∴ Total loss =20000−19800=Rs.200
∴ % of loss =
20000
200×100
=1%
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Answer:
Step-by-step explanation:
Let the cost price of the first car is x and that of the second is y.
so, x+y = 80 Lakh (i)
Now, there is a 16% profit on the first car and 32% profit on the second car. Also, there is a 20% profit all over.
116% of x + 132% of y = 120% of (x+y)
(116/100)x + (132/100)y = (120/100)(x+y)
29x + 33y = 30x + 30y
x = 3y (ii)
From (i) and (ii)-
y = 20 Lakh
x = 60 Lakh
Hence, SP of the first car = 60×(116/100) = 69.6 Lac