Mukesh sells 80% part of a commodity at a profit of 20% and rest of the part at a loss of 5% and in this way earns a profit of ₹9,300. What was the cost price of the commodity for Mukesh?
- A₹61,000
- B₹58,000
- C₹62,000
- D₹60,000
Solution & Step-by-step Explanation
Let the total cost price of the commodity be x.
Cost price of 80% part =0.8x
Profit on this part =20% of 0.8x=0.20×0.8x=0.16x
Cost price of the rest part (20%) =0.2x
Loss on this part =5% of 0.2x=0.05×0.2x=0.01x
Net overall profit can be given as:
Net Profit=Profit−Loss
9,300=0.16x−0.01x
9,300=0.15x
x=
0.15
9,300
=
15
930,000
=62,000
Thus, the cost price of the commodity was ₹62,000.
Cost price of 80% part =0.8x
Profit on this part =20% of 0.8x=0.20×0.8x=0.16x
Cost price of the rest part (20%) =0.2x
Loss on this part =5% of 0.2x=0.05×0.2x=0.01x
Net overall profit can be given as:
Net Profit=Profit−Loss
9,300=0.16x−0.01x
9,300=0.15x
x=
0.15
9,300
=
15
930,000
=62,000
Thus, the cost price of the commodity was ₹62,000.