📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A retailer bought a gadget for Rs. ‘a’ and marked it

    140% above its cost price. He sold it after giving two successive discounts of 800 and 25%, respectively, and achieved a profit of Rs. 2a/3. Find the marked price of the gadget.
    A Rs 4,500 Correct Answer Incorrect Answer
    B Rs 9,800 Correct Answer Incorrect Answer
    C Rs 12,600 Correct Answer Incorrect Answer
    D Rs 8,400 Correct Answer Incorrect Answer
    E Rs 10,800 Correct Answer Incorrect Answer

    Solution

    Let Cost Price (CP) = Rs. a Marked Price (MP) after 140% markup = CP + 140% of CP = a + 1.4a = 2.4a Selling Price (SP) after both discounts = 2.4a – 800 – 0.25 * (2.4a – 800) = 1.8a – 600 According to the problem, Profit earned = Rs. 2a/3. Therefore, SP = CP + Profit = a + 2a/3 = 5a/3 Or, 1.8a – 600 = 5a/3 Or, 0.4a = 1800 Or, a = 4500 Therefore, Marked price = 240% * 4500 = Rs 10,800    

    Practice Next
    More Profit and loss Questions

    Relevant for Exams:

    ask-question