A shopkeeper buys two books for Rs.300. He sells the first book at a profit of 20% and the second book at a loss of 10%. What is the selling price of the first book, if, in the whole transaction there is no profit no loss?
This questions was previously asked in
SSC CGL 9th March 2020 Shift-2
Explanation:
- The shopkeeper buys two books for a total of Rs. 300.
- Let the cost price of the first book be Rs. x. Therefore, the cost price of the second book will be Rs. (300 - x).
- The first book is sold at a profit of 20%. So, its selling price is 1.2 times its cost price, which is 1.2x.
- The second book is sold at a loss of 10%. So, its selling price is 0.9 times its cost price, which is 0.9(300 - x).
- The transaction results in no profit, no loss. So, total selling price should be equal to the total cost price.
- Therefore, 1.2x + 0.9(300 - x) = 300.
- Solving: 1.2x + 270 - 0.9x = 300.
- 0.3x = 30.
- x = 100.
- Selling price of the first book is 1.2 * 100 = Rs. 120.
- Answer: Rs. 120
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By: santosh