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    Question

    A company declared 20% discount for wholesale buyers on

    an item. A wholesaler bought the item from the company for тВ╣400 after getting a discount. He fixed up selling price of the item in such a way that he earned a profit of 15% on the original company price. What is the selling price of the item?
    A тВ╣500 Correct Answer Incorrect Answer
    B тВ╣525 Correct Answer Incorrect Answer
    C тВ╣550 Correct Answer Incorrect Answer
    D тВ╣575 Correct Answer Incorrect Answer
    E тВ╣600 Correct Answer Incorrect Answer

    Solution

    Given, after 20% discount, cost price of the item for the wholesale buyer = тВ╣400 Let the original company price be x. ∴ x - 20% of x = тВ╣ 400 ⇒ 0.8x = 400 ⇒ x = тВ╣ 500 He earned a profit of 15% on the original company price. ⇒ Selling price of the item = тВ╣ 500 + 15% of тВ╣ 500 = 1.15 * 500 = тВ╣ 575

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