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A person bought two articles for ₹ 1500 and ₹ 1000 respectively one he sold at a gain of 20%. At what price should he sell the other to get a profit of 16% on the whole transaction ?
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- ₹ 1100
- ₹ 1200
- ₹ 1150
- ₹ 1250
Correct Option: A
CP of first article is ₹ 1500, Gain=20%
SP of first article = (120/100) x 1500 = ₹ 1800
Total CP = 1500 + 1000 = ₹ 2500
Total gain = 16%
Total SP = (116/100) x 2500 = ₹ 2900
SP of second article = (2900 - 1800) = ₹ 1100
Thus, he should sell the second article at ₹ 1100.
