A trader bought two articles for ₹490. He sold one at a loss of 20% and the other at a profit of 16%. If the selling price of both articles is same, then the cost price (in ₹) of the article sold at 20% loss is:
Answer & explanation
Correct answer: option 3
Loss % = 20% = \(\frac{1}{5}\)
Profit % = 16% = \(\frac{29}{25}\)
CP SP
1st 5 4
2nd 25 29
Given SP is equal so make SP equal
CP SP
1st ( 5 4 )× 29
2nd ( 25 29)× 4
CP SP
1st 145 116
2nd 100 116
————————————
245 232
245x = 490
145x = 290