Question
Ravi purchases two wrist watches for a total of Rs. 600.
He sells one watch at 4/5 of its cost price and the other at 6/5 of its cost price, and makes an overall profit of Rs. 60. What is the cost price of the cheaper watch?Solution
Let the cost price of one watch = Rs. x Then, cost price of the other watch = Rs. (600 – x) According to the question, x × 4/5 + (600 – x) × 6/5 = 600 + 60 4x/5 + 3600/5 – 6x/5 = 660 4x/5 – 6x/5 = 660 – 720 –2x/5 = –60 x = (–60 × 5)/(–2) x = 150 Cost price of first watch = Rs. 150 Cost price of second watch = 600 – 150 = Rs. 450 Hence, Between ₹150 and ₹450, the cheaper watch is ₹150 .
The total liability of the monetary authority of India i.e. RBI, is included in which of the following?
Which of the following products of a bank can have credit risk?
A. fund based loans
B. non fund based loans
C. treasury products
What does the term "IS curve" represent in the ISLM model?
Which of the following is not considered for maintaining Statutory Liquidity Ratio (SLR) by  Scheduled Commercial Banks?
Which of the following is true regarding the Motor Vehicles Act, 1988?
1)Â Â Â The act mandates that all motor vehicles in India must have th...
In order to settle an international trade in Indian rupee, an AD bank needs to open ______________ of correspondent bank/s of the partner trading countr...
Consider the following statements regarding the history of bullion:
1) The use of bullion dates back to ancient civilizations such as the Egyp...
Which of the following financial products is most commonly utilized by MSMEs to address short-term liquidity requirements and ensure the smooth functio...
Which of the following is not a part of the RBI’s Monetary Policy transmission mechanism?
In a leveraged buyout (LBO), what is the primary source of funds used for the acquisition of a company?
