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
Question
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
Solution
Let's denote the cost price of the first watch as x and the cost price of the second watch as y.
From the problem, we know that:
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x + y = 1000 (since the total cost of the two watches is Rs. 1000)
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0.95x + 1.2y = 1050 (since he sells the first watch at a 5% loss, the second at a 20% gain, and overall gains Rs. 50)
We can solve these two equations to find the values of x and y.
First, multiply the first equation by 0.95:
0.95x + 0.95y = 950
Subtract this from the second equation:
0.25y = 100
Solving for y gives y = 400.
Substitute y = 400 into the first equation to find x:
x + 400 = 1000
Solving for x gives x = 600.
So, the cost price of the first watch is Rs. 600 and the cost price of the second watch is Rs. 400. Therefore, the answer is B] Rs. 600, Rs. 400.
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