πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!


    Question

    Cost price of an article is X. The article is marked up

    by Y% and sold while offering a discount of 25%. The profit earned is (Y + 20). When the same article is marked up by (Y + 5)% and sold while offering a discount of 25%, the profit earned is (Y + 65). Which of the following statement is correct?
    A 0.5X = 15Y Correct Answer Incorrect Answer
    B 0.25X = 1.2Y - 132 Correct Answer Incorrect Answer
    C X = 30 Γ· 22Y Correct Answer Incorrect Answer
    D X = 20Y Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    CP = X MP = (X + XY/100) SP = (X + XY/100) x 75/100 Profit = (Y + 20) We know that, Profit = SP – CP Profit + CP = SP (X + XY/100) x (3/4) = X + Y + 20 ----------(1) Similarly, when the same article is marked up by (Y + 5)% and the profit earned is (Y + 65). We will get: {X + X(Y + 5)/100} x (3/4) = X + Y + 65 ----(2) Subtracting equation (1) by (2), we get {X + X(Y + 5)/100} x (3/4) - (X + XY/100) x (3/4) = (X + Y + 65) – (X + Y + 20) 3/4 { (X + XY + 5X – X – XY)/100} = 45 3/4 x 5X/100 = 45 X = 1200 Y = 40 Putting the value of X and Y in 0.5X = 15Y => 0.5 x 1200 = 15 x 40 => 600 = 600 Therefore, statement I is true.

    Practice Next
    More Profit and loss Questions
    ask-question