Single correct option
A trader buys two chairs for a total of ₹2,400. He sells one at a profit of 20% and the other at a loss of 10%, making neither a profit nor a loss overall. What was the cost price of the chair sold at a loss?
- A. ₹800
- B. ₹1,200
- C. ₹1,600
- D. ₹1,500
Show answer and solution
Answer: (C) ₹1,600
Let the chair sold at a profit cost x; the other costs 2400 − x.
No net gain: 0.2x = 0.1(2400 − x) → 0.3x = 240 → x = 800.
The chair sold at a loss cost 2400 − 800 = ₹1,600.
Shortcut: the cost prices are in the inverse ratio of the percentages, 10 : 20 = 1 : 2, so the loss-making chair takes 2/3 of 2400.
Trap: ₹800 is the chair sold at a profit.
No net gain: 0.2x = 0.1(2400 − x) → 0.3x = 240 → x = 800.
The chair sold at a loss cost 2400 − 800 = ₹1,600.
Shortcut: the cost prices are in the inverse ratio of the percentages, 10 : 20 = 1 : 2, so the loss-making chair takes 2/3 of 2400.
Trap: ₹800 is the chair sold at a profit.
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