Shubham sells two articles at the same selling price, the first at a loss of 20% and the second at a profit of 60%. If the difference between their cost prices is Rs 3200, find the selling price of the article sold at a profit of 60%.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Rs 5120
Equal selling prices give a ratio of the cost prices: 80% of the first cost equals 160% of the second cost.
Let the cost prices be Rs \(a\) (loss) and Rs \(b\) (profit)
\(0.8a=1.6b\), so \(a=2b\)
\(a-b=3200\), so \(2b-b=3200\) and \(b=3200\)
Selling price \(=1.6\times3200=\) Rs 5120
Check: \(a=6400\) and \(0.8\times6400=5120\)
The selling price is Rs 5120.