Prateek sold a music system to Kartik at 20% gain and Kartik sold it to Swastik at 40% gain. If Swastik paid… · ABC26GN2716
Subject: General Aptitude · Chapter: Profit and Loss · Exam: Bank P.O. 2009
Prateek sold a music system to Kartik at 20\% gain and Kartik sold it to Swastik at 40\% gain. If Swastik paid ₹ 10500 for the music system, what amount did Prateek pay for the same?
(a)₹ 6250
(b)₹ 7500
(c)₹ 8240
(d)Cannot be determined
(e)None of these
Answer
Answer (as printed): A
Explanation
Let the price paid by Prateek be ₹ $x$. Then, $140 \%$ of $120 \%$ of $x=10500$ $$\Rightarrow \frac{140}{100} \times \frac{120}{100} \times x=10500 \Rightarrow x=\left(10500 \times \frac{25}{42}\right)=6250 .$$
Explanation as extracted from the printed page; notation may be imperfect.