Question
Download Solution PDFA dealer buys an old cooler listed at ₹650 and gets successive discounts of 20% and 10%. He spends ₹38 on its repairs and sells it at a profit of 20%. Find the selling price of the cooler.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Marked price = Rs. 650
Discounts = 20% and 10%
The cost of repairs = Rs. 38
Selling profit = 20%
Formula used:
C.P. = [(100 - Discount%)/100] × M.P.
S.P. = C.P. × [(100 + Profit%)/100]
Where, C.P. = Cost price; S.P. = Selling price; M.P. = Marked price
Calculation:
The cost price = 650 × [(100 - 10)/100] × [(100 - 20)/100]
= 650 × (90/100) × (80/100) = Rs. 468
Total spending = 468 + 38 = Rs. 506
The selling price = 506 × [(100 + 20)/100]
= 506 × (120/100)
= Rs. 607.2
∴ The required selling price is Rs. 607.2.
∴ Option 4 is the correct answer.
Last updated on Jun 25, 2025
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