Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2016 · Marks: · Difficulty:
The price of a cycle is marked at ` 1150. A shopkeeper earns a profit of 15% after allowing a discount of 15% on the marked price. Find the cost price of the cycle.
(a)` 900
(b)` 1000
(c)` 850
(d)` 950
Answer
Answer (as printed): C
Explanation
Marked price of cycle = ₹1150. Discount percent = 15%. Sale price = $1150 - \frac{1150 \times 15}{100}$ = ₹(1150 – 172.5) = ₹977.5. Let C.P. of cycle be ₹x. According to given information, $x + 15\% \text{ of } x = ₹977.5 \Rightarrow \frac{115x}{100} = 977.5 \Rightarrow x = \frac{977.5 \times 100}{115} = ₹850$.
Explanation as extracted from the printed page; notation may be imperfect.