New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    A merchant possesses 60 identical items, each marked up

    by 180% above the cost price. He sells 30 of these items at a 25% discount and the remaining 30 at a 50% discount. Calculate the total profit the seller earns under these conditions, assuming the cost price for each item is consistent.
    A 40% Correct Answer Incorrect Answer
    B 80% Correct Answer Incorrect Answer
    C 60% Correct Answer Incorrect Answer
    D 75% Correct Answer Incorrect Answer
    E 50% Correct Answer Incorrect Answer

    Solution

    Let the cost price of each article be Rs. '10x'. So, marked price of each article = 10x X 2.8 = Rs. '28x' Selling price of 30 articles = 28x X 30 X 0.75 = Rs. '630x' Selling price of remaining 30 articles = 28x X 30 X 0.5 = Rs. '420x' So, total selling price = 630x + 420x = Rs. '1050x' And total cost price = 10x X 60 = Rs. '600x' Total profit = 1050x - 600x = Rs. '450x' So, required percentage = (450x/600x) X 100 = 75%

    Practice Next