A dealer buys an article listed as Rs.3000 at successive discounts of 15% and 20%. Find the price at which he should sell the article so as to make a profit of 25%.

Question

A bought a phone from a store and paid \(\frac{1}{6}\) of the price using UPI, \(\frac{1}{3}\) of the price in cash, and the remaining balance a year later. He also paid 10% interest on the remaining balance after one year. What was the original price of the phone?

Answer 1

The correct answer is option (C):

Rs. 2550

Here's the breakdown of how to solve this problem:

First, let's calculate the price the dealer actually paid for the article. This involves applying the discounts.

Discount 1: 15% of Rs. 3000 = (15/100) * 3000 = Rs. 450
Price after discount 1: 3000 - 450 = Rs. 2550

Discount 2: 20% of Rs. 2550 = (20/100) * 2550 = Rs. 510
Price after discount 2 (Dealer's Cost Price): 2550 - 510 = Rs. 2040

Now, we need to find the selling price that gives the dealer a 25% profit. Profit is calculated on the cost price.

Profit amount: 25% of Rs. 2040 = (25/100) * 2040 = Rs. 510

Selling Price: Cost Price + Profit = 2040 + 510 = Rs. 2550

Therefore, the dealer should sell the article for Rs. 2550 to make a 25% profit. This aligns with one of the provided answer choices, making it the correct answer.

A dealer buys an article listed as Rs.3000 at successive discounts of 15% and 20%. Find the price at which he should sell the article so as to make a profit of 25%.

The Correct Option is C

Solution and Explanation

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