S trader bought two articles for Rs 490. He sold one at a loss of 20 % and the other at a profit of 16% . If the selling price of both articles is same , then the cost price (in Rs) of the articles sold 20% loss is :
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 290
Given :
Cost price of the two articles = Rs 490
Loss percent = 20%
Profit percent = 16%
Formula used :
Loss % = ((CP - SP)/CP) × 100 ----- (1)
Profit % = ((SP - CP)/CP) × 100 ----- (2)
Calculations :
Let the CP of first article be x
CP of second article be (490 - x)
Selling price of first article = x × (80/100)
⇒ Rs 4x/5 ----- (3)
Selling price of second article = (490 - x) × 116/100 ----- (4)
Equating equation (3) and (4) because selling price of both article is equal
⇒ 4x/5 = (490 - x) × 116/100
⇒ 49x/25 = 568.4
⇒ x = 290
Hence, cost price of the article sold at 20% loss is Rs 290