1.

After offering successive discounts of 20% and 30% on a chair, the selling price of chair is Rs. 902 less than marked price. The profit earned on this transaction is 40%. What is the sum of cost price and marked price of chair?1). Rs. 25602). Rs. 28703). Rs. 27304). Rs. 3000

Answer»

In case of SUCCESSIVE DISCOUNTS, Selling Price = MARKED Price × (1 – Discount1/100) × (1 – Discount2/100) …….

⇒ Marked price – Selling price = Marked price - Marked price × (1 – 20/100) × (1 – 30/100) = 902

⇒ Marked price = 902/[1 – 0.8 × 0.7] = 902/0.44 = 2050

And, selling price = Marked price – Rs. 902 = Rs. 2050 – Rs. 902 = Rs. 1148

The profit earned on this TRANSACTION is 40%.

We know, Selling Price = Cost Price × (1 + (Profit Percentage)/100)

⇒ Cost price of chair = Rs. 1148/(1 + (40/100)) = Rs. 1148/1.4 = Rs. 820

∴ Sum of cost price and marked price of chair = Rs. 820 + Rs. 2050 = Rs. 2870


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