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

    Question

    A shopkeeper earned a profit of 28% on a gadget, while

    another shopkeeper sold the same gadget for a 20% profit. If the first shopkeeper’s profit was Rs. 64 more than the second shopkeeper’s profit, what was the cost price of the gadget?
    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;
    ATQ,
    Let the cost price of the gadget = Rs. ‘x’
    Selling price of the gadget for the first shopkeeper = Rs. ‘1.28x’
    Selling price of the gadget for the second shopkeeper = Rs. ‘1.20x’
    ATQ;
    (1.28x – 1.20x) = 64
    Or, 0.08x = 64
    So, x = 64 / 0.08 = 800
    Therefore, cost price of the gadget = Rs. 800

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