Question

    A shop seller offered a discount of Rs. 3500 on the

    marked price of a rice bag and earned a profit of 40%. If the difference between the cost price and the marked price of the rice bag is 37.5% of the marked price of the rice bag, then determine the profit earned by the shop seller on selling the rice bag.
    A Rs.6500 Correct Answer Incorrect Answer
    B Rs.7000 Correct Answer Incorrect Answer
    C Rs.5400 Correct Answer Incorrect Answer
    D Rs.5600 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the marked price of the rice bag = Rs. ‘r’ Selling price of the rice bag = Rs. (r – 3500) Cost price of the rice bag = {(r – 3500)/140} × 100 According to the question, r – {(r – 3500)/140} × 100 = r × 37.5% (14r – 10r + 35000)/14 = r × 37.5% 4r + 35000 = r × 14 × (37.5/100) 4r + 35000 = 5.25r 1.25r = 35000 r = 28000 Marked price of the Rice bag = Rs.28000 Selling price of the Rice bag = 28000 – 3500 = Rs.24500 Required profit = (24500/140) × 40 = Rs.7000

    Practice Next
    More Profit and loss Questions

    Relevant for Exams:

    ask-question