Question

A shopkeeper sold old Television to his friend at a loss of 5% but his friend made a profit of 15% by selling the same Television to his relatives at Rs.1,20,175. Find the cost price of the television 
1. Rs 1,10,000
2. Rs.1,20,000
3. Rs 1,30,000
4. Rs.1,40,000

Answer 1

Correct Answer - Option 1 : Rs 1,10,000

Given:

The shopkeeper sold the television to his friend at a loss of 5% but his friend made a profit of 15% by selling the same Television to his relatives at Rs.1,20,175

Concept Used:

Selling price = Cost price + Profit

Selling price = Cost price - Loss

Calculation:

Let, the cost price be Rs.x

Selling Price = x - 5% of x

⇒ 95x/100

Selling price when shopkeeper's friend sold = (95x/100) + 15 % of (95x/100)

120175 = (95x/100) + 1425x/1000

⇒120175 = (9500x + 1425x)/10000

⇒120175 = 10925x/10000

⇒ (120175 × 10000)/10925 = x

⇒ 1,10,000 = x

∴ Cost price of television is Rs.1,10,000.