Question:
Latika bought a teapot for Rs 120 and a set of cups for Rs 400. She sold teapot at a profit of 5% and cups at a loss of 5%. The amount received by her is:
(a) Rs 494
(b) Rs 546
(c) Rs 506
(d) Rs 534
Solution:
(c) Rs 506
Explanation: Price of teapot = Rs. 120
Price of set of cups = Rs. 400
Latika sold teapot at a profit of 5%
Selling price of teapot = 5/100 x 120 + 120
= 120/20 +120
= 6 + 120 = Rs.126
Also, cups were sold at a loss of 5%.
Now, selling price of cups = 400 –5/100 x 400
= 400 – 20
= Rs. 380
Therefore, total amount received = Rs. 126 + Rs. 380 = Rs. 506