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Ram calculates his profit percentage on cost price and Amit calculates on selling price. Their selling price are same, and sum of their actual profit is Rs. 360 and both claims to have made 25% profit. What is the selling price?1. Rs. 5002. Rs. 6003. Rs. 7004. Rs. 800 |
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Answer» Correct Answer - Option 4 : Rs. 800 Given: Ram calculates profit percent on C.P and Amit calculates on S.P Profit earned by Ram + profit earned by Amit = 360 Profit percentage earned by Ram and Amit each = 25% Selling price of Ram = Selling price of Amit Formula used: % Profit = (profit/cost price) × 100 Cost price = 100/(100 + a%) × selling price Where, a% → percent profit Concept used: Profit/loss is always calculated on C.P Calculation: Let S.P of Ram and Amit be X % profit earned by Ram = 25% C.P of Ram = 100/(100 + 25) × X ⇒ (100/125) × X ⇒ 4/5 × X ⇒ 4X/5 Ram calculates his profit percent on C.P Profit earned by Ram = 25% of C.P ⇒ 25% of 4X/5 = X/5 ----(1) Similarly, S.P of Amit = X Amit calculates his profit percent on S.P Profit earned by Amit = 25% of X ⇒ (25/100) × X = X/4 ----(2) Profit earned by Ram + profit earned by Amit = 360 ⇒ X/5 + X/4 = 360 ⇒ (4X + 5X)/20 = 360 ⇒ 9X = 360 × 20 ⇒ X = 7200/9 ⇒ X = 800 ∴ The selling price of each is Rs. 800. |
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