Question

Sunil calculates his profit percentage on the selling price whereas Sujeet calculates his profit on the cost price. They find that the difference of their profits is Rs 900. If the selling price of both of them are the same, and Sunil gets $50\%$ profit and Sujeet gets $40\%$ profit, then find their selling price.

Answer 1

Let the Selling price be Rs S.
Let the cost price of Sunil be Rs C1.
Let the cost price of Sujit be Rs C2.
i) Profit of Sunil $=50\%=\frac{S-C1}{S}\Rightarrow C1=\frac{S}{2}$
ii) Profit of Sujit $=40\%=\frac{S-C2}{C2}\Rightarrow C2=\frac{5S}{7}$
iii) Difference in profit $=(S-C1)-(S-C2)$
$=C2-C1=\frac{5S}{7}-\frac{S}{2}=\frac{3S}{14}=Rs.900\left(given\right)$
$\Rightarrow S=14\times \frac{900}{3}=Rs.4200$.