A person purchased a table and a sofa for ₹28,000. He sold the sofa at a profit of 10% and the table at a profit 15.25%. If his total profit was 13%, then the difference between the cost price of the sofa and the table (in ₹) is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 4000
Let the cost price of the sofa and table be x and y respectively.
So, x + y = 28000
⇒ y = 28000 - x
The person sold the sofa at a profit of 10% and the table at a profit of 15.25% to make a total profit of 13%.
Then, (10/100)x + (15.25/100)y = (13/100) × 28000
⇒ 0.10x + 0.1525y = 3640
⇒ 0.10x + 0.1525(28000 - x) = 3640
⇒ 0.10x + 4270 - 0.1525x = 3640
⇒ 0.0525x = 630
⇒ x = 12000
So, y = 28000 - 12000 = 16000
Difference = 16000 - 12000 = 4000
Therefore, the difference between the price of the sofa and the table is ₹4000.