Ramesh bought 2 boxes for Rs. 1300. He sold one box at a profit of 20% and the other at a loss of 12%. If the selling price of both the boxes is the same. Find the cost of each box
Given in question, Total price of two boxes = 1300
Let CP of one box = y
Then CP of another box = (1300 – y)
Profit on 1st box = 20%
∴ SP of 1st box = y + 20/100y
SP of 1st box = 100y + 20y/100 = 120y/100
Loss on 2nd box = 12%
∴ SP of 2nd box = CP – Loss
SP of 2nd box = (1300 – y) (1-12/100)
SP of 2nd box = 1144 – 88y/100
But SP of both boxes is same 120y/100+88y/100 = 1144
208y/100 = 1144
y = 1144*100/208 = 550