A person sells article X for ₹34,500 and makes a profit of 15%. He sells article Y at a loss of 10%. He neither loses nor gains on the whole because of these two transactions. What is the selling price of article Y?
₹40,500
Let the cost price of article X be ₹34,500. Profit is 15%, so cost price of X = ₹34,500 / (1 + 0.15) = ₹30,000. Since the person neither gains nor loses on the whole, the cost price of Y must also be ₹30,000. The loss on Y is 10%, so selling price of Y = 90% of ₹30,000 = ₹27,000. Hence, the selling price of Y is ₹40,500.
A shopkeeper sold his goods at the cost price. By using false weights, he gained \(11\frac{1}{9}\%\). What weight did he use for 1 kg?
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