Arithmetic

Profit & Loss

Medium

X sold an article to Y at a profit of 18%. Later on, Y sold it back to X at a profit of 40%, thereby gaining ₹ 118. How much did X pay for the article originally?

₹ 300

₹ 220

₹ 280

₹ 250

✅ Correct Option: 4

Let the original price X paid be $P$ .

When X sold to Y at 18% profit:

X's selling price $= P + 0.18P$

$= 1.18P$

This is Y's cost price.

When Y sold back to X at 40% profit:

Y's selling price $= 1.18P + 0.40(1.18P)$

$= 1.18P \times 1.40$

$= 1.652P$

Y's profit $=$ Y's selling price $-$ Y's cost price

$= 1.652P - 1.18P$

$= 0.472P$

Y's profit is given as ₹118:

$0.472P = 118$

$P = \dfrac{118}{0.472}$

$P = 250$

Therefore, X originally paid ₹250 for the article.

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X sold an article to Y at a profit of 18%. Later on, Y sold it back to X at a profit of 40%, thereby gaining ₹ 118. How much did X pay for the article originally?

Solution

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