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

    Question

    A trader made a profit of 18% on a product, while another

    trader sold the same product for a 14% profit. If the first trader’s profit was Rs. 32 more than the second trader’s profit, what was the cost price of the product?
    A Rs.800 Correct Answer Incorrect Answer
    B Rs.450 Correct Answer Incorrect Answer
    C Rs.675 Correct Answer Incorrect Answer
    D Rs.520 Correct Answer Incorrect Answer

    Solution

    ATQ;
    Let the cost price of the product = Rs. ‘x’
    Selling price of the product for the first trader = Rs. ‘1.18x’
    Selling price of the product for the second trader = Rs. ‘1.14x’
    ATQ;
    (1.18x – 1.14x) = 32
    Or, 0.04x = 32
    So, x = 32 / 0.04 = 800
    Therefore, cost price of the product = Rs. 800

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