New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    The combined cost price of two

    items, P and Q, is Rs. 10,000. The cost price of Q is equal to the selling price of P. Item P is marked up by 30% and item Q is marked up by 40% above their respective cost prices. The discount offered on both items is the same, and item Q is sold for Rs. 7350. Determine the discount offered on both items.
    A Rs.225 Correct Answer Incorrect Answer
    B Rs.220 Correct Answer Incorrect Answer
    C Rs.350 Correct Answer Incorrect Answer
    D Rs.365 Correct Answer Incorrect Answer

    Solution

    ATQ, Let the cost price of item ‘P’ be Rs. ‘x’. Therefore, cost price of item ‘Q’ and selling price of item ‘P’ = Rs. (10000 – x) Marked price of item ‘P’ = Rs. 1.3x Discount offered on item ‘P’ = 1.3x – (10000 – x) = Rs. (2.3x – 10000) Marked price of item ‘Q’ = Rs. 1.4(10000 – x) Selling price of item ‘Q’ = 1.4(10000 – x) – (2.3x – 10000) = Rs. (24000 – 3.7x) According to the question, 24000 – 3.7x = 7350 Or, 3.7x = 16650 Or, x = 16650/3.7 = Rs. 4500 Therefore, discount offered on each item = (2.3x – 10000) = Rs. 350

    Practice Next

    Relevant for Exams: