A man buys two items for a total of Rs. 3000. He sells one at a 20% profit and the other at a 10% loss. If he makes no overall profit or loss, what is the cost price of the first item? MCQ with Answer and Explanation
A man buys two items for a total of Rs. 3000. He sells one at a 20% profit and the other at a 10% loss. If he makes no overall profit or loss, what is the cost price of the first item?
A. Rs. 1500
B. Rs. 1200
C. Rs. 2000
D. Rs. 1000
Answer: Option D
Solution (By JKSSB Mock Tests)
Let Cost Price of first item = x. Cost Price of second = 3000 - x. Profit = 0.20x. Loss = 0.10(3000 - x). 0.20x = 300 - 0.10x. 0.30x = 300. x = 1000.
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