Question

A man buys two tables for Rs 900. He sells one at a loss of 10%, and the other at a gain of 2%. On the whole transaction, he neither gains nor loses. Find the cost price of each table.

a. Rs 400, Rs 500
b. Rs 450, Rs 450
c. Rs 500, Rs 400
d. Rs 550, Rs 350

Answer 1

To find the cost price of each table, we can set up a system of equations using the given information and solve for the cost price.

Step-by-step explanation:

To find the cost price of each table, we can set up a system of equations using the given information. Let's assume the cost price of the first table is x and the cost price of the second table is y.

According to the given information, the man sells one table at a loss of 10%. Selling at a loss means the selling price is 90% of the cost price.

So, the selling price of the first table is 0.9x and the selling price of the second table is 1.02y (selling at a gain of 2%).

Since the man neither gains nor loses on the whole transaction, the sum of the selling prices must equal the sum of the cost prices.

So, we can set up the following equation:

0.9x + 1.02y = 900

We also know that the cost price of both tables combined is Rs 900.

So, we can set up the equation:

x + y = 900

Solving these two equations will give us the cost price of each table.

By solving the equations, we can find that x = 400 and y = 500. Therefore, the cost price of the first table is Rs 400 and the cost price of the second table is Rs 500.