Two articles A and B are sold for Rs. 1,167 making 5% profit on A and 7% profit on B. If the two articles are sold for Rs. 1,165, a profit of 7% is made on A and a profit of 5% is made on B. Find the cost price of each article.
Multiplying equation (2) with 1.05 we get, 1.1235x+1.1025y=1223.25 ----- equation (4)
Subtracting equation (4) from (3), we get 0.0424y=25.44⇒y=600
Substituting y=600 in the equation (2), we get 1.07x+1.05(600)=1165⇒x=500
Hence, cost price of A is Rs. 500 and of B is Rs. 600