Question

Gopi sold a watch to Ibrahim at 12% gain and Ibrahim sold it to John at a loss of 5%. If John paid ₹ 1,330, then find how much did Gopi sell it?

• A. ₹ 1400
• B. ₹ 1500
• C. ₹ 1600
• D. ₹ 1700

Hint:

When solving profit and loss problems, always express the selling price as a percentage of the cost price. In this case, Gopi's price to Ibrahim was the cost price for Ibrahim, and the loss for Ibrahim is applied to determine John's price.

Answer 1

The Correct Option is A

Let's work backward from the final price paid by John.
John paid ₹ 1,330. This is the selling price for Ibrahim.
Ibrahim sold the watch to John at a 5% loss.
This means that the price John paid (₹ 1,330) is $100% - 5% = 95%$ of what Ibrahim originally paid for the watch.
Let Ibrahim's Cost Price (CP) be $C_{Ibrahim}$.
Then, $C_{Ibrahim} \times \frac{95}{100} = 1330$.
$C_{Ibrahim} = 1330 \times \frac{100}{95}$.
$C_{Ibrahim} = \frac{133000}{95}$.
$C_{Ibrahim} = 1400$.
So, Ibrahim's Cost Price was ₹ 1400.
Ibrahim bought the watch from Gopi. Therefore, the selling price for Gopi is the cost price for Ibrahim.
The question asks how much did Gopi sold it?, which means we need to find Gopi's selling price.
Gopi's Selling Price = Ibrahim's Cost Price = ₹ 1400.