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Traders A and B buy two goods for Rs. 1000 and Rs. 2000 respectively. Trader A marks his goods up by x%, while trader B marks his goods up by 2x% and offers a discount of x%. If both make the same non-zero profit, find x.
By BYJU'S Exam Prep
Updated on: September 25th, 2023
(a) 15%
(b) 25%
(c) 35%
(d) 45%
Here x is 25%. According to the question we can write as:
SP of trader A = 1000 (1 + x/100) = 1000 + 10x
His profit will be:
Profit of trader A = 10x
According to the question we can write as:
MP of trader B = 2000 (1 + 2x/100) = 2000 + 40x
SP of trader B = 2000 (1 + 2x/100) (1 – x/100)
In simplification we get the:
= 2000 (1 + x/100 – 2×2/1002)
= 2000 + 20x + 0.4×2
Now consider,
Profit of trader B = 0.4×2 + 20x
Therefore both make the same profit:
10x = -0.4×2 + 20x
On rearranging:
0.4×2 = 10x
0.4x = 10
x = 25
Therefore the profit will be:
x = 25%
Formula to Calculate Market Prices for Goods
Mathematicians use the profit and loss formula to calculate market prices for goods and to assess how lucrative a company is. There is a selling price and a cost price for every good. We can determine the profit made or loss suffered for a certain product based on the values of these prices.
Profit is the money made when a thing is sold for more than it costs to produce.
Loss: The sum that the seller experiences as a result of selling the item for less than its cost is indicated.
Cost price: The price paid to purchase a good or service is referred to as the cost price. Denoted as CP as well.
Selling price: The selling price of a product is the price at which it is sold. Typically, it is identified as SP. also known as a sale price on occasion.
Summary:
Traders A and B buy two goods for Rs. 1000 and Rs. 2000 respectively. Trader A marks his goods up by x%, while trader B marks his goods up by 2x% and offers a discount of x%. If both make the same non-zero profit, find x.
Traders A and B buy two goods for Rs. 1000 and Rs. 2000 respectively. Trader A marks his goods up by x%, while trader B marks his goods up by 2x% and offers a discount of x%. If both make the same non-zero profit, x is 25%.