Each of the articles was marked 55% above its cost price and while selling ‘y’ % discount was given on it. The selling price of the article M is Rs. 7440. The cost price of article M is Rs. 575 less than the selling price of article N. The selling price of the article M is 24% more than the cost price of article N. The sum of the MRP of article M and N together is Rs. 19220. Find out the value of ‘y’ and the difference between the profit obtained on article M and N respectively.

Solution

The selling price of the article M is Rs. 7440. The selling price of the article M is 24% more than the cost price of article N. Rs. 7440 = (100+24)% of cost price of article N 124% of cost price of article N = 7440 1.24 x (cost price of article N) = 7440 cost price of article N = 7440/1.24 = Rs. 6000 MRP of article N = 6000 of (100+55)% = 6000 of 155% = Rs. 9300 The sum of the MRP of article M and N together is Rs. 19220. MRP of article M = 19220-9300 = Rs. 9920 cost price of article M of (100+55)% = 9920 cost price of article M of 155% = 9920 cost price of article M = 9920/1.55 = Rs. 6400 The cost price of article M is Rs. 575 less than the selling price of article N.  6400 = selling price of article N - 575 selling price of article N = 6400+575 = Rs. 6975 Each of the articles was marked 55% above its cost price and while selling ‘y’ % discount was given on it. MRP of article M of (100-y)% = selling price of the article M 9920 of (100-y)% = 7440 99.20x(100-y) = 7440 (100-y) = 75 y = 100-75 y = 25 Difference between the profit obtained on article M and N = (7440-6400)-(6975-6000) = 1040-975 = 65