Question
'S' purchased two bags of rice for a total of Rs. 2,000.
He sold one of the bags at a profit of 32%, and the other at a loss of 12%. If the overall profit earned by 'S' on selling both bags is 5.6%, determine the cost price of the bag of rice that was sold at a loss of 12%.Solution
ATQ, Let cost of Rice bag sold at a profit of 32% = Rs. ‘r’ Cost price of the Rice bag sold at a loss of 12% = Rs. ‘2000 – r’ ATQ, (1.32 × r) + {0.88 × (2000 – r)} = 1.056 × 2000 Or, 1.32r + 1760 – 0.88r = 2112 Or, 0.44r = 352 So, r = 800 Therefore, cost price of the article sold at a loss of 12% = 2000 – 800 = Rs.1,200
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