Question
Download Solution PDFP sells a toy to Q at a profit of 40 percent and Q sells it to R at a profit of 10 percent. If R pays Rs. 539 for the toy, then what was the cost price of toy for P?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
P sold the toy to Q at 40% profit
Q sold it to R at 10% profit
R paid Rs. 539 for the toy
Formula used:
Profit percent = [(Selling Price - Cost Price)/Cost Price] × 100
Solution:
⇒ Selling Price of Q to R = Rs. 539
⇒ Cost Price for Q = Selling Price of Q to R / (1 + profit% of Q) = 539/1.1
⇒ Cost Price for P = Cost Price for Q/(1 + profit% of P)
Therefore, the cost price of the toy for P is Rs. 350
Alternate Method 539 = CP of P × 140/100 × 110/100
⇒ CP of P = (539 × 100)/(14 × 11) = Rs. 350
∴ The cost price of the toy for P is Rs. 350.
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