Irfan buys two cycles for a total of ₹12,000. He sells one at a loss of 20% and the other at a gain of 20%, and both sell for the same price. What did the cycle sold at a loss cost him?

₹4,800Correct answerYour answer₹5,760Correct answerYour answer₹6,000Correct answerYour answer₹7,200Correct answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

Let the loss-making cycle cost ₹x. The other costs ₹ $(12{,}000 - x)$ .
Same SP: $0.8x = 1.2(12{,}000 - x)$ .
$0.8x + 1.2x = 14{,}400$ , so $2x = 14{,}400$ and $x = 7{,}200$ .

Worth noting

Equal selling prices do not mean equal costs. The cycle sold at a loss must have cost more. ₹6,000 splits the money equally, and ₹5,760 is the common SP.

Concept: Splitting a total cost when SPs are equal
Typical timeTypical: 110 s
Your timeYours: —

The rule this testsProfit and loss

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Irfan buys two cycles for a total of ₹12,000. He sells one at a loss of 20% and the other at a gain of 20%, and both sell for the same price. What did the cycle sold at a loss cost him?

Explanation