Question

One trader calculates the percentage profit on the
buying price and another calculates on the selling
price. When their selling prices are the same,
then the difference of their actual profits is 85
and both claim to have made 20% profit. What is
the selling price of each ? (SSC-2008)​

Answer 1

Answer:

2550

Step-by-step explanation:

Selling Price of Both = S

Let say Profit of One = P

Profit of Another =  P - 85

Buying price  of one = S - P

Buying price of Another = S - (P -85) = S - P + 85

20 % Profit on S  = 0.2S  = P

20% profit on S - P + 85  = 0.2(S - P + 85 )  = P - 85

=> 0.2(S - P + 85 )  = P- 85

=> 0.2(S - 0.2S + 85) = 0.2S - 85

=> 0.16S + 17 = 0.2S - 85

=> 0.04S = 102

=> S = 2550

CP         SP        Profit

2040    2550    510     20% of 2550

2125     2550   425     20% of 2125