Mohit sells two articles for Rs 855 in all. He sells the first at a 10% loss and the second at a 25% profit. If the cost price of the first article is equal to the selling price of the second, find his overall profit or loss (in Rs).
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 45
Take one unknown for the amount that is shared: the cost price of the first article, which is also the selling price of the second. Every other price follows from the given rates.
Let the cost price of the first article \(=\) selling price of the second \(=\) Rs \(a\)
Selling price of the first (10% loss) \(=0.9a\)
Cost price of the second (25% profit) \(\displaystyle =a\times\frac{100}{125}=0.8a\)
Total selling price: \(0.9a+a=1.9a=855\), so \(a=450\)
Total cost price \(=a+0.8a=1.8a=1.8\times450=\) Rs 810
Overall result \(=855-810=\) Rs 45 profit
Mohit makes an overall profit of Rs 45.