Andrew bought two books for ₹ 1830. By selling one book at a profit of 7% and the other at a loss of 8% he neither gains nor loses in the whole transaction. Find the cost price of each book.₹ 1000, ₹ 830₹ 950, ₹ 880₹ 854, ₹ 976₹ 700, ₹ 1130
Question
Andrew bought two books for ₹ 1830. By selling one book at a profit of 7% and the other at a loss of 8% he neither gains nor loses in the whole transaction. Find the cost price of each book.₹ 1000, ₹ 830₹ 950, ₹ 880₹ 854, ₹ 976₹ 700, ₹ 1130
Solution
Let's denote the cost price of the first book as x and the cost price of the second book as y.
According to the problem, Andrew bought two books for ₹ 1830, so we have the equation:
x + y = 1830
Andrew sold the first book at a profit of 7% and the second book at a loss of 8%. Since he neither gains nor loses in the whole transaction, the selling price of the first book (x + 7% of x) must be equal to the selling price of the second book (y - 8% of y). This gives us the equation:
x + 0.07x = y - 0.08y
Solving these two equations simultaneously will give us the cost price of each book.
Let's simplify the second equation:
1.07x = 1.08y
Now, divide the first equation by the second:
(1.07x) / (1.08y) = (x + y) / (y - 0.08y)
Solving this equation gives:
x = ₹ 1000 and y = ₹ 830
So, the cost price of the first book is ₹ 1000 and the cost price of the second book is ₹ 830.
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