Sachin bought the first pen for ₹630 and the second pen for ₹722, respectively. He sells the first pen at 70% of the profit but the buyer bargains for the price, and he has to offer a 9% discount and the second pen at 71% of the profit. Find the total profit he had in this transaction (correct to two decimal places).

Given:

Cost Price of the first pen (CP₁) = ₹630

Cost Price of the second pen (CP₂) = ₹722

Profit Percentage for the first pen = 70%

Discount Percentage on the first pen = 9%

Profit Percentage for the second pen = 71%

Formula used:

1. Selling Price (SP) = CP × (1 + Profit Percentage/100)

2. Discounted Price = SP × (1 - Discount Percentage/100)

3. Total Profit = Total Selling Price - Total Cost Price

Calculations:

For the first pen:

SP (before discount) = 630 × (1 + 70/100)

⇒ SP (before discount) = 630 × 1.7

⇒ SP (before discount) = ₹1071

Discounted SP = 1071 × (1 - 9/100)

⇒ Discounted SP = 1071 × 0.91

⇒ Discounted SP = ₹974.61

Profit on the first pen = Discounted SP - CP₁

⇒ Profit on the first pen = 974.61 - 630

⇒ Profit on the first pen = ₹344.61

For the second pen:

SP = 722 × (1 + 71/100)

⇒ SP = 722 × 1.71

⇒ SP = ₹1235.62

Profit on the second pen = SP - CP₂

⇒ Profit on the second pen = 1235.62 - 722

⇒ Profit on the second pen = ₹513.62

Total Profit = Profit on the first pen + Profit on the second pen

⇒ Total Profit = 344.61 + 513.62

⇒ Total Profit = ₹858.23

∴ The correct answer is option (2).