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April 14th, 2018, 12:17 AM   #1
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Why 1:4 is considered as cost price rather than profit ratio?

A person bought 2 refrigerators for a total of 42000. He sold one at a profit of 20% and the other at a profit of 30%. If his overall profit on selling both the refrigerators is 28%, then what is the selling price of the refrigerator, which was sold at a profit of 30%?

Solution:


The cost price of the refrigerators are in the ratio 1: 4

The cost price of the refrigerators which was sold at a profit of 30% = $42000 \dfrac{4}{5} = 33600$

The required selling price = $33600 \dfrac{100+30}{100}$

= 43680.

In the diagram, we used profit percentages only so why 1:4 is considered as cost price ratio rather than profit ratio?

Last edited by Ganesh Ujwal; April 14th, 2018 at 12:25 AM.
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April 14th, 2018, 08:53 AM   #2
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The profit percentages are percentages of corresponding cost prices, so 1:4 is the cost price ratio.

If you proceed similarly using percentages of the corresponding selling prices, the ratio you use will be the selling price ratio.
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