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Akshay calculates his profit percent on the selling price whereas Ajay calculates his profit percent on the cost price and they find that the difference in their profits is Rs.85. Akshay earns a profit of 25% and Ajay earns a profit of 20%. Find their selling price, if the selling price of both of them are same? 

Akshay calculates his profit percent on the selling price whereas Ajay calculates his profit percent on the cost price and they find that the difference in their profits is Rs.85. Akshay earns a profit of 25% and Ajay earns a profit of 20%. Find their selling price, if the selling price of both of them are same?  Correct Answer 1020

Given:

Akshay calculates his profit percent on the selling price.

Profit earned by Akshay = 25% = 1/4

Let the selling price of Akshay be 4x 

⇒ Profit of Akshay = x

⇒ Cost price of Akshay = Selling price - Profit = 4x - x = 3x

Ajay calculates his profit percent on the cost price.

Profit earned by Ajay = 20% = 1/5

Let the cost price of Ajay = 5x

⇒ Profit of Ajay = x

⇒ Selling price of Ajay = Cost price + Profit = 5x + x = 6x

Now, Selling price of both are same,

Taking selling price of both = 12x        ( L.C.M of 4x and 6x)

⇒ Profit of Akshay = 3x and Profit of Ajay = 2x

Difference in profit of both = 3x - 2x = x = 85

⇒ Selling price = 12x = 12 × 85 = Rs.1020

∴ Selling price of both Akshay and Ajay = Rs.1020

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