A sold two items, X and Y, at 25% and 35% profit, respectively. If the difference between their profit is Rs 750 and the cost price of both items is the same, find the cost price of item X.
Correct Answer :
Rs 7500
Solution :
To find the cost price of item X, let us break down the problem step-by-step:
Step 1: Define the variables
Let the cost price (CP) of both items X and Y be
since the question states that the cost price of both items is the same.
Step 2: Calculate the profit for each item
Profit on item X is 25% of its cost price:
Profit on item Y is 35% of its cost price:
Step 3: Set up the equation using the difference in profit
The difference between the profits of the two items is given as Rs 750. Therefore:
Substituting the expressions we found:
Step 4: Solve for the cost price (CP)
Divide both sides of the equation by 0.10 to find the cost price:
Thus, the cost price of item X is Rs 7500.
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