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Question
Satish sells a washing machine for Rs. 8,900 and makes a profit of 20%. He sells another washing machine at a loss of 15%. If on the whole, he neither gains nor loses, find the cost price of the second washing machine.
Solution
For the first washing machine :
S.P. = Rs.8900 and profit = 20%
∴ C.P. =
∴ C.P. =
∴ C.P. =
∴ C.P. =
∴ C.P. = Rs.
Since in the whole transaction, there is no profit and no loss,
∴ Loss on the second washing machine
= Profit on the first washing machine
= 20% of
=
= Rs.
For the second washing machine :
Loss = 15% and Loss = Rs.
C.P. of the second washing machine
= Rs.
= Rs.9888.87
Hence, C.P. of the second washing machine is Rs.9888.87 approximately.
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