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

    Question

    Rahul purchased an item and later sold it to Pawan,

    earning a profit of 19%. Pawan then sold the same item to Lokesh, making a 20% profit on his purchase price. If Lokesh paid Rs. 714 for the item, determine the original purchase price Rahul paid for it.
    A Rs. 520 Correct Answer Incorrect Answer
    B Rs. 500 Correct Answer Incorrect Answer
    C Rs. 450 Correct Answer Incorrect Answer
    D Rs. 600 Correct Answer Incorrect Answer
    E Rs. 400 Correct Answer Incorrect Answer

    Solution

    Let, the price at which Rahul bought the article be Rs. ‘x’ So, cost price of article for Pawan = 119% of x = Rs. 1.19x And, cost price article for Lokesh = 120% of 1.19x = Rs. 1.428x Therefore, 1.428x = 714 x = 500 So, the price at which Rahul bought the article = Rs. 500 Hence, option b.

    Practice Next

    Relevant for Exams: