The total cost price of two cars A and B of different models is Rs. 5.0 lakh. Car A is sold at a profit of 20 percent and car B at a loss of 20 percent, but the selling price of the two cars remains the same. Find the cost price of cars A and B in lakhs respectively.
ARs. 2.5 lakh and Rs. 2.5 lakh
BRs. 2.4 lakh and Rs. 2.6 lakh
CRs. 2.0 lakh and Rs. 3.0 lakh ✓ Correct
DRs. 2.6 lakh and Rs. 2.4 lakh
Correct answer: (C) Rs. 2.0 lakh and Rs. 3.0 lakh
Explanation
Car A costs Rs. 2.0 lakh and car B costs Rs. 3.0 lakh.
Let CP of A = x, so CP of B = 5 - x (in lakh).
Selling prices equal: 1.2x = 0.8(5 - x).
1.2x = 4 - 0.8x, so 2x = 4 and x = 2.
CP of A = 2.0 lakh and CP of B = 5 - 2 = 3.0 lakh.
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