If a man sells a pen at 24% profit and pencil at 54% profit, he earns Rs. 1960.2 as profit. But if he sells the pen at 11\(\frac{1}{9}\)% and pencil at 14\(\frac{2}{4}\)% loss then he bears no profit no loss. Find the cost price of the pencil and the pen.
Answer & explanation
Correct answer: option 1
pen × 11\(\frac{1}{9}\)% profit = pencil × 14\(\frac{2}{7}\)% loss
ratio of Pen : Pencil
14\(\frac{2}{7}\)% : 11\(\frac{1}{9}\)
\(\frac{1}{7}\) : \(\frac{1}{9}\)
CP 9 : 7
Let Make this ratio 900 : 700
pen at 24% profit = 900R × \(\frac{24}{100}\) = 216R
pencil at 54% profit = 700R × \(\frac{54}{100}\) = 378R
According to question , 216R + 378R = 1960.2
594R = 1960.2
1R = 3.3
Cost price of pen = 900 × 3.3 = 2970
Cost price of pencil = 700 × 3.3 = 2310
Hence, cost price of pencil and pen is 2310 and 2970 respectively.