New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    A shopkeeper originally priced an item at 60% above its cost price and then offered a 15% discount before selling it. If the shopkeeper had initially marked the item at 75% above the cost price and offered a 20% discount, they would have made Rs.130 more in profit. The question seeks to find the selling price of the item, considering the shopkeeper's goal of achieving a 22% profit.

    A Rs.3950 Correct Answer Incorrect Answer
    B Rs.3000 Correct Answer Incorrect Answer
    C Rs.3900 Correct Answer Incorrect Answer
    D Rs.3965 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let, cost price of the item is Rs. ‘a’ Selling price of the item when it was marked 60% above the cost price and sold after giving a discount of 15% = 0.85 × 1.60 × a = Rs. 1.36a Selling price of the item when it was marked 75% above the cost price and sold after giving a discount of 20% = 0.80 × 1.75 × a = Rs. 1.4a So, 1.4a – 1.36a = 130 Or, 0.04a = 130 Or, a = 3250 Required Selling price = 1.22 × 3250 = Rs.3965

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