Question 55
A shopkeeper buys two books for Rs.300. He sells the first book at a profit of 20% and the second book at a loss of 10%. What is the selling price of the first book, if, in the whole transaction there is no profit no loss?
Solution
Let the cost price of first book be Rs.x.
Cost price of second book = 300 - x
According to question,
x $$\times \frac{120}{100} + (300 - x) \times \frac{90}{100} = 300$$
($$\because$$ There is no profit no loss.)
12x + (300 - x)9 = 3000
12x + 2700 - 9x = 3000
3x = 300
x = 100
Selling price of first book = 100 $$\times \frac{120}{100} = Rs.120
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