A person sells article X for ₹ 34,500 and makes a profit of 15%. He sells article Y at a loss of 10%. He neither loses nor gains on the whole because of these two transactions. What is the selling price of article Y?
- A. ₹40,000
- B. ₹40,500 ✓
- C. ₹41,000
- D. ₹51,500
Correct Answer: B. ₹40,500
Explanation
Cost Price of X = \frac{34500}{1.15} = 30000. Profit on X = 34500 - 30000 = 4500. To have no overall profit or loss, the loss on Y must be 4500. Since loss is 10% on Y, CP of Y = 45000. The selling price of Y = 45000 - 4500 = 40500.
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