Question
The total of the cost price and the marked price of
article 'A' is Rs. 42,000, while the sum of its marked price and selling price amounts to Rs. 36,000. If the cost price of article 'B' is Rs. 24,000 and the profit or loss incurred on selling it is the same as that of article 'A', determine the percentage of profit or loss incurred on selling article 'B'.Solution
For article 'A':
(Cost price + marked price) = Rs. 42,000..... (I)
(Marked price + selling price) = Rs. 36,000..... (II)
Subtracting equation (II) from equation (I), we get
(Cost price - selling price) of article 'A' = 42000 - 36000 = Rs. 6,000 (loss since cost price is more than the selling price)
Required loss/profit percentage = (6000/24000) X 100 = 25%
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