Shortcut Trick
Total shirts in transaction = 2 (Paid) + 1 (Free) = 3 shirts.
Total Cost Price (CP) = 3 × ₹300 = ₹900.
Total Selling Price (SP) needed for 30% profit = 900 × 130% = ₹1170.
Since the customer pays for only 2 shirts, the SP of one shirt = ₹1170 ÷ 2 = ₹585.
∴ The correct answer is ₹585.
Alternate Method
Given:
CP of 1 shirt = ₹300
Scheme = Buy 2, Get 1 Free
Desired Profit = 30%
Shirt 1
CP: ₹300
Shirt 2
CP: ₹300
Free Shirt
CP: ₹300
Total Shirts Handed Over = 3
Total CP = ₹900
Calculations:
⇒ Total Cost Price for 3 shirts = 3 × 300 = ₹900
⇒ Profit desired = 30% of ₹900 = (30 ÷ 100) × 900 = ₹270
⇒ Total Selling Price required = Total CP + Profit = 900 + 270 = ₹1170
⇒ Number of shirts paid for by the customer = 2
⇒ Selling price of one shirt = Total SP ÷ Number of shirts paid = 1170 ÷ 2
⇒ Selling price of one shirt = ₹585
∴ The correct answer is ₹585.
Additional Information
Discount Percentage in Free Schemes
Discount % = (Number of free items ÷ Total number of items) × 100. For 'Buy 2 Get 1', Discount = (1 ÷ 3) × 100 = 33.33%.
Effective Profit Relation
Total SP = Total CP × (1 + Profit/100). The total SP is then distributed only over the items actually sold (paid for).
Marked Price and Discount
If a discount is offered on Marked Price (MP), then SP = MP × (1 − Discount/100). In 'Buy X Get Y' schemes, MP is often the price of one item.