Question
Download Solution PDFIf 7% of S.P. is equal to 8% of C.P. and if 9% of S.P. is Rs. 2 more than 10% of C.P, then find C.P. and S.P.:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Let Cost Price (C.P.) = ₹x
Selling Price (S.P.) = ₹y
7% of S.P. = 8% of C.P.
9% of S.P. = ₹2 more than 10% of C.P.
Formula used:
(7/100) × y = (8/100) × x
y = (8/7) × x
And,
(9/100) × y = (10/100) × x + 2
Calculation:
From first condition:
(7/100) × y = (8/100) × x
⇒ 7y = 8x
⇒ y = (8/7) × x
From second condition:
(9/100) × y = (10/100) × x + 2
⇒ 9y = 10x + 200
Substitute y = (8/7) × x:
⇒ 9 × (8/7) × x = 10x + 200
⇒ 72x = 70x + 1400
⇒ 2x = 1400
⇒ x = 700
So, C.P. = ₹700
Now, find S.P.:
y = (8/7) × 700
⇒ y = 800
∴ The Cost Price is ₹700 and the Selling Price is ₹800.
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