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

    Question

    Article 'Q' is sold at a profit of 20% which earns a

    profit of Rs. 400. If Article 'Q' is marked 50% above its cost price and then sold after offering two successive discounts of 10% and Rs. y, respectively, what would be the value of 'y' such that there is neither profit nor loss in the transaction?
    A 900 Correct Answer Incorrect Answer
    B 700 Correct Answer Incorrect Answer
    C 840 Correct Answer Incorrect Answer
    D 480 Correct Answer Incorrect Answer

    Solution

    Let the cost price of Article 'Q' = Rs. 100y. Since a 20% profit equals Rs. 400: 20y = 400 y =400/20 = 20 Therefore, the cost price (CP) of Article 'Q' = (100 × 20) = Rs. 2000. The market price is 50% above its CP: MP =2000×1.5=3000 The price after the first discount: Price after 1st discount = 3000 × 0.9 = 2700 Determine the Further Discount (y) Needed for No Profit or Loss: To ensure no profit or loss, the final selling price must equal the CP of Rs. 2000. Thus, the value of y (further discount): =2700-2000 = Rs.700

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