Ankur purchases 20 mobile phones and 10 laptops for a total of 14 lakhs. He increases the price of each mobile phone by 30% and each laptop by 20%, earning a profit of 3.5 lakhs. Calculate the total profit if he instead sells each mobile phone at a 40% increased price and each laptop at a 50% increased price.
Solution
Let the price at which Ankur purchases a mobile phone and a laptop be X and Y.
Therefore, the cost price of 20 mobile phones and 10 laptops = 20X+10Y = 14,00,000 ----equation (1)
Now, it is given that he sold a mobile phone at an increased price of 30% and a laptop for an increased price of 20%
Profit made = 3,50,000
Therefore, the Selling Price of 20 mobile phones and 10 laptops = 14,00,000+3,50,000 = 17,50,000
=> 20X*1.3+10Y*1.2 = 17,50,000
=> 26X+12y = 17,50,000 ----equation (2)
Solving equations (1) and (2), we get
X = 35,000 and Y = 70,000
Therefore, if he has sold each mobile phone at a 40% increased price and each laptop at a 50% increased price.
The profit will be 20*35,000*0.4 + 10*70,000*0.5 = 2,80,000+3,50,000 = Rs.6,30,000
