A man purchases two watches at Rs.665. He sells one at 20% profit and the other at 15% loss. He neither gains nor loses in the transaction. Find the respective cost prices of the watches
Question
A man purchases two watches at Rs.665. He sells one at 20% profit and the other at 15% loss. He neither gains nor loses in the transaction. Find the respective cost prices of the watches
Solution
Let's denote the cost price of the first watch as x and the cost price of the second watch as y.
Given that the total cost of the two watches is Rs.665, we can write the first equation as:
x + y = 665
The man sells the first watch at a 20% profit and the second watch at a 15% loss. However, he neither gains nor loses in the transaction. This means that the profit he makes on the first watch is equal to the loss he incurs on the second watch.
We can write this as a second equation:
0.20x = 0.15y
Now we have a system of two equations, and we can solve it to find the values of x and y.
First, let's express y from the second equation:
y = 0.20x / 0.15 = 1.33x
Now we can substitute y in the first equation:
x + 1.33x = 665
This simplifies to:
2.33x = 665
Solving for x gives:
x = 665 / 2.33 = 285 (approximately)
Substituting x = 285 in the first equation gives:
285 + y = 665
Solving for y gives:
y = 665 - 285 = 380
So, the cost prices of the watches are approximately Rs.285 and Rs.380.
Similar Questions
Suresh buys two watches for Rs. 1,000. He sells one at a loss of 5% and the other at 20% gain and on the whole, he gains Rs. 50. Find the cost price of each watch.A] Rs. 900, Rs. 400 B] Rs. 600, Rs. 400 C] Rs. 700, Rs. 400 D] Rs. 300, Rs. 400
Raj buys two clocks for Rs. 840. He sells one of the clocks at 8% profit and the other at a loss of 6%. Thus, as a whole he neither gains nor loses. Find the cost price of each clock
When a man sold a watch for Rs. 4000, then he makes a loss of in this transaction. If man would sell the same watch for Rs. 5000, then he would make a profit of of what the loss he makes initially. Find the cost price of watch (in Rs.)?
A wholesaler sells a watch to a retailer at a profit of 25% and the retailer sells it to a customer at a loss of 12%. If the customer pays Rs 1045, what had it cost the wholesaler?a.1149b.751c.950d.1244
A person purchased two articles at the same price and on selling the first article he makes a profit of 12%. Selling price of second article is Rs 90 more than the selling price of the first article. Find the cost price of one article if his overall profit percent is 15%?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.