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

    Question

    The selling price of an item when it is sold at a profit of

    20% is Rs. 50 more than its selling price when it is sold at a loss of 15%. What should be the selling price of the item if it is sold at a profit of 30%?
    A Rs.232.15 Correct Answer Incorrect Answer
    B Rs.185.90 Correct Answer Incorrect Answer
    C Rs.346.15 Correct Answer Incorrect Answer
    D Rs.142.86 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the cost price of the item = Rs. '100y'

    According to the question,

    100y × 1.20 - 100y × 0.85 = 50

    Or, 120y - 85y = 35y = 50

    So, y = (50/35) = 1.43

    Cost price of the item = 1.43 × 100 = Rs. 143

    Required selling price = 143 × 1.30 = Rs. 185.90

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