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

    Question

    Article ‘P’, if sold at a profit of 20% earns a

    profit of Rs. 400. If article ‘P’ is marked 50% above its cost price and then sold after offering two successive discounts of 12% and Rs. x, respectively then what would be the value of ‘x’ such that there is neither profit nor loss in the transaction?
    A 600 Correct Answer Incorrect Answer
    B 650 Correct Answer Incorrect Answer
    C 640 Correct Answer Incorrect Answer
    D 680 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price of article ‘P’ = Rs. 100y Then, according to the question, 20y = 400 Or, y = (400/20) = 20 So, cost price of article = Rs. 2000 Marked price of the article = 2000 × 1.5 = 3000 Price after 1st discount of 12% = 3000 × 0.88 = 2640 So, further discount be given = 2640 – 2000 = Rs. 640 Or, x = 640

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