Multiple choice

Cost Price of two bags is same. One of the bag is sold at a profit of 30% and the Selling Price of another one bag is Rs. 1700 more than the first one. The net profit is 40%. What is the Cost Price of Each bag?

  1. 9000

  2. 9200

  3. 8800

  4. 8200

  5. 8500
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Let CP of each bag = x. First bag: SP = 1.3x. Second bag: SP = 1.3x + 1700. Total CP = 2x, Total SP = 2.6x + 1700. Net profit = 40%, so Total SP = 1.4 × 2x = 2.8x. So 2.8x = 2.6x + 1700, 0.2x = 1700, x = 8500. Each bag costs Rs 8500.

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