On selling a tea set at 5% loss and a lemon set at 15 % gain , a shopkeeper gains Rs 70.

Question

If he sells the tea set at 5% gain and the lemon set at 10% gain he gains Rs 130. Find the cost price of the lemon set

Answer 1

0.95T + 1.15L = 70

1.05T + 1.10L = 130

 

These equations represent the situation you described (T = basic cost of tea set, L = basic cost of 'lemon ' set).

 

I don't like the term "cost price" at all.  There must be a distinction between cost and selling prices; the selling prices in my work above are the products of the coefficients and the variables, in each of the two scenarios.