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    Question

    Article ‘P’, if sold at a profit of 40% earns a

    profit of Rs. 400. If article ‘P’ is marked 40% above its cost price and then sold after offering two successive discounts of 10% and Rs. x, respectively then what would be the value of ‘x’ such that there is neither profit nor loss in the transaction?
    A 220 Correct Answer Incorrect Answer
    B 230 Correct Answer Incorrect Answer
    C 260 Correct Answer Incorrect Answer
    D 240 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, 40y = 400 Or, y = (400/40) = 10 So, cost price of article = Rs. 1000 Marked price of the article = 1000 × 1.4 = 1400 Price after 1st discount of 10% = 1400 × 0.9 = 1260 So, further discount be given = 1260 – 1000 = Rs. 260 Or, x = 260

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