Question of The Day23-01-2023

The marked price of a product is Rs. 1633 more than the cost price. When the same product is sold at a discount of Rs. 253 then the profit percent earned is 30%. If he sold that product at a discount of Rs. 46 with the same marked price. Then find the profit percentage.

Answer

Correct Answer : b ) 34.50%

Explanation :

Let the Cost Price (CP) of the product be x

Then, Marked Price (MP) = x + 1633

Now, it is given that, if the discount is Rs. 253, then the profit earned is 30%

We know that

Selling Price (SP) = Marked Price (MP) – Discount

And

Selling Price (SP) = [(100 + Profit%)/100] * CP

Putting values and unknowns in the above two formulas, we get

SP = x + 1633 – 253

SP = x + 1380 ……….1

SP = 130x/100 ……2

From equation 1 and 2, let us equate SP

X + 1380 = 130x/100

10x + 13800 = 13x

3x = 13800

x = 4600

So, CP of the product (x) = Rs. 4600

SP = 4600 + 1380 = Rs. 5980

MP = 4600 + 1633 = Rs. 6233

Now, For a discount of Rs. 46

SP = 6233 – 46 = Rs. 6187

Profit = SP – CP

= 6187 – 4600 = 1587

Profit% = (Profit/CP)*100

Profit% = (1587/4600)*100 = 34.50%

Hence, (b) is the correct answer.

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