Multiple choice

The total cost price of two articles is Rs 2000. One of them is sold at a profit of 12\% and the other at a loss of 12\%. The overall gain in the transaction is 1.2\%. The cost price of the article for which there was a profit was:

  1. 1050

  2. 1100

  3. 1120

  4. 1080

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the profit article cost be x, so loss article costs 2000-x. Profit: 0.12x, Loss: 0.12(2000-x). Net gain: 0.012 × 2000 = 24. So 0.12x - 0.12(2000-x) = 24, giving 0.12x - 240 + 0.12x = 24, so 0.24x = 264, thus x = 1100.