Question 31
The cost price of item B is Rs. 150/- more than the cost price of item A. Item A was sold at a profit of 10% and item B was sold at a loss of 20%. If the respective ratio of selling prices of items A and B is 11 : 12, what is the cost price of item B?
Solution
CP of B = CP of A +150
SP of A = 1.10 $$\times$$ CP of A
SP of B = 0.8 $$\times$$ CP of B = 0.8 $$\times$$ (CP of A +150)
SP of A : SP of B = 11: 12
1.10 $$\times$$ CP of A : 0.8 $$\times$$ (CP of A +150) = 11:12
13.2 $$\times$$ CP of A = 8.8 $$\times$$ (CP of A +150)
13.2 $$\times$$ CP of A - 8.8 $$\times$$ CP of A = 1320
4.4 $$\times$$ CP of A = 1320
CP of A = 1320/4.4 = 300
CP of B = Rs. 450/-
Option A is the correct answer.
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