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

    Question

    Two vendors sell an electronic gadget for Rs. 1500,

    making a profit of 20%. One vendor calculates his profit based on cost price, while the other considers selling price. Determine the difference in their earnings.
    A Rs.50 Correct Answer Incorrect Answer
    B Rs.48 Correct Answer Incorrect Answer
    C Rs.32 Correct Answer Incorrect Answer
    D Rs.40 Correct Answer Incorrect Answer

    Solution

    ATQ;
    Cost price for the first vendor = 1500 ÷ (100 + 20)% = 1500 ÷ 1.20 = Rs. 1250
    Cost price for the second vendor = 1500 × (100 - 20)% = 1500 × 0.80 = Rs. 1200
    Profit of the first vendor = 1500 - 1250 = Rs. 250
    Profit of the second vendor = 1500 - 1200 = Rs. 300
    Difference in profit = 300 - 250 = Rs. 50

    Practice Next