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A person purchased two articles at the same price and on selling the first article he makes a profit of 12%. Selling price of second article is Rs 90 more than the selling price of the first article. Find the cost price of one article if his overall profit percent is 15%?

Question

A person purchased two articles at the same price and on selling the first article he makes a profit of 12%. Selling price of second article is Rs 90 more than the selling price of the first article. Find the cost price of one article if his overall profit percent is 15%?

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Solution

Let's solve this step by step:

Step 1: Let's assume the cost price of one article is Rs. x.

Step 2: The selling price of the first article is Rs. x + 12% of x = Rs. 1.12x.

Step 3: The selling price of the second article is Rs. 90 more than the selling price of the first article. So, the selling price of the second article is Rs. 1.12x + Rs. 90.

Step 4: The total cost price of the two articles is Rs. x + Rs. x = Rs. 2x.

Step 5: The total selling price of the two articles is Rs. 1.12x + Rs. 1.12x + Rs. 90 = Rs. 2.24x + Rs. 90.

Step 6: The overall profit percent is 15%. So, the total selling price is also Rs. 2x + 15% of 2x = Rs. 2.3x.

Step 7: Now, equate the total selling price from step 5 and step 6, we get 2.24x + 90 = 2.3x.

Step 8: Solving this equation, we get x = Rs. 900.

So, the cost price of one article is Rs. 900.

This problem has been solved

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