Subject: General Aptitude · Chapter: Profit and Loss · Exam: · Marks: · Difficulty:
A shopkeeper sold sarees at ₹ 266 each after giving 5\% discount on labelled price. Had he not given the discount, he would have earned a profit of 12\% on the cost price. What was the cost price of each saree?
(a)₹ 240
(b)₹ 260
(c)₹ 280
(d)Data inadequate
(e)None of these
Answer
Answer (as printed): E
Explanation
S.P. of 1 saree $=₹ 266$. Let the labelled price of each saree be ₹ $x$. Then, $\frac{95}{100} x=266 \Rightarrow x=₹\left(\frac{266 \times 100}{95}\right)=₹ 280$. Now, S.P. $=₹ 280$, Profit $=12 \%$. $\therefore \quad \text { C.P. of } 1 \text { saree }=₹\left(\frac{100}{112} \times 280\right)=₹ 250$.
Explanation as extracted from the printed page; notation may be imperfect.