New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Article ‘P’, if sold at a profit of 18% earns a profit of Rs. 360. If article ‘P’ is marked 30% above its cost price and then sold after offering two successive discounts of 10% and Rs. x, respectively then what would be the value of ‘x’ such that there is neither profit nor loss in the transaction?

    A 320 Correct Answer Incorrect Answer
    B 330 Correct Answer Incorrect Answer
    C 340 Correct Answer Incorrect Answer
    D 350 Correct Answer Incorrect Answer

    Solution

    Let the cost price of article ‘P’ = Rs. 100y Then, according to the question, 18y = 360 Or, y = (360/18) = 20 So, cost price of article = Rs. 2000 Marked price of the article = 2000 × 1.3 = 2600 Price after 1st discount of 10% = 2600 × 0.9 = 2340 So, further discount be given = 2340 – 2000 = Rs. 340 Or, x = 340

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