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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