Ram sells a suitcase to Mohan at a 20% profit. Mohan sells it to Shyam at a 40% profit. If Shyam pays Rs. 1,430 for it, then the price at which Ram bought it is:

Question

Question

This question was previously asked in

SSC CGL 2023 Tier-I Official Paper (Held On: 17 Jul 2023 Shift 2)

Answer 1

Given:

Ram sells a suitcase to Mohan at a profit = 20%

Mohan sells a suitcase to Shivam at a profit = 40%

Shivam pays to Mohan = Rs.1430

Concept used:

P% profit = C.P : S.P = 100 : (100 + P)

Where, C.P = cost price ; S.P = selling price

Calculation:

Let Ram buy the suitcase = 100x

Ram sells a suitcase to Mohan = 100x × (100 + 20)% = 120x

Mohan sells it to Shivam = 120x × (100 + 40)% = 168x

According to the question:

⇒ 168x = Rs.1430

⇒ x = 1430/168 = 715/84

⇒ 100x = (715 × 100)/84 = Rs.851.19

∴ The correct answer is 851.19.

Alternate MethodCalculation:

Now,

Ram : Shivam = 100 × 100 : 120 × 140

⇒ 25 : 42

⇒ 42 units = Rs.1430

⇒ 1 unit = 1430/42 = 715/21

⇒ 25 units = (715 × 25)/21 = Rs.851.19

∴ The correct answer is Rs.851.19.

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