Two traders sell, each an article for Rs. 2100. If traders A computes his profit on cost price, while trader B computes his profit on selling price, they end up making profits of 16.67 % respectively. By how much is the profit made by trader B greater than that of trader A?

Two traders sell, each an article for Rs. 2100. If traders A computes his profit on cost price, while trader B computes his profit on selling price, they end up making profits of 16.67 % respectively. By how much is the profit made by trader B greater than that of trader A? Correct Answer Rs. 50

Selling price of both the trader is same = Rs. 2100

Trader A:

A computes his profit percent on Cost price

⇒ Profit percent = 16.67 % = 1/6

⇒ Let cost price be 6x and selling price will be 7x

⇒ 7x = 2100

⇒ x = Rs. 300

⇒ Cost price = 6x = Rs. 1800

⇒ Profit = Cp - Sp = Rs. 300

Trader B:

B computes his profit percent on Selling price

⇒ Profit percent = 16.67% = 1/6

⇒ Selling price be 6x and cost price will be 5x

⇒ 6x = 2100

⇒ x = Rs. 350

⇒ Cost price = 5x = Rs. 1750

⇒ Profit = Rs. 350

⇒ Profit difference of trader B and trader A = Rs. 50

∴ Trader B make a profit of Rs 50 more than trader A.

Related Questions

Each question below is followed by two statements I and II. You have to determine whether the data given in the statement is sufficient for answering the question. You should use the data and your knowledge of Mathematics to choose the best possible answer. The cost price of an article is Rs. 600. How much profit did a trader get by selling the article, if it was sold at 15% discount? I. The trader marked the article at Rs. 750. II. The trader sold the article to X and X sold the article to Y at Rs. 650 earning a profit of 25%.