A person sells article X for ₹34,500 and makes a profit of 15%. He sells article Y at a loss of 10%. He neither loses nor gains on the whole because of these two transactions. What is the selling price of article Y?
Answer
The correct answer is B: ₹40,500. Cost price of X = 34500/1.15 = ₹30,000, so profit on X = ₹4500. For no overall gain/loss, loss on Y must equal ₹4500.
A.₹40,000
B.₹40,500✓ Correct
C.₹41,000
D.₹51,500
Explanation
Cost price of X = 34500/1.15 = ₹30,000, so profit on X = ₹4500. For no overall gain/loss, loss on Y must equal ₹4500. Loss of 10% means CP of Y × 0.10 = 4500, so CP of Y = ₹45,000. Selling price of Y = 45000 − 4500 = ₹40,500.
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