Question 63

Cost price of two beds are equal. One bed is sold at a profit of 25% and the other one for Rs.6,596/less than the first one. If the overall profit earned after selling both the beds is 8%, what is the cost price of each bed ?

Solution

Let the cost price of two beds be Rs C per each bed

Now at one bed the profit earned is 25% so its Selling Price(SP1) = 1.25 C

Another bed Selling Price is (SP2) = 1.25 C - 6596

It is given that overall profit is 8 % so,

SP1 + SP2 = 1.08(2C)

1.25C + 1.25C - 6596 = 1.08x2 C

2.5C - 2.16C = 6596

C = Rs 19400

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