New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A shopkeeper marks an item 50% above its cost price.

    During a sale, he provides two successive discounts of 20% and 10%. Calculate the profit percentage.
    A 7.5% Correct Answer Incorrect Answer
    B 7% Correct Answer Incorrect Answer
    C 8% Correct Answer Incorrect Answer
    D 8.5% Correct Answer Incorrect Answer

    Solution

    Let the Cost Price (CP) = ₹x. Marked Price (MP) = CP × 1.50 (since it's 50% above CP) = 1.5x Selling Price (SP) after two successive discounts of 20% and 10%: SP = 1.5x × (1 - 0.20) × (1 - 0.10) SP = 1.5×0.72x SP = 1.08x

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