The cost price of article X is Rs. 'a + 1000' and it is marked 60% above its cost price. The profit earned on article X is Rs. 1000 when a discount of 12.5% is given. If the cost price of article B is Rs. 'a + 500' and selling price is 14.28% less than selling price of article X, then find the profit percentage earned on selling article B?
- AOption (a)
25%
- BOption (b)
40%
- COption (c)
50%
- DOption (d)
75%
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Correct answer
50%
Why this answer is correct
Given:
Cost price of article = a + 1000
Profit = Rs. 1000
Discount = 12.5%
Solution:
Marked price = 160% of (a + 1000) = 8/5(a + 1000)
Selling price = 7/8 of (8/5(a + 1000) = 7/5 of (a + 1000) (12.5% = 1/8)
Now,
Profit = SP - CP
1000 = 7/5of (a + 1000) - (a +1000)
1000 = (2a + 2000)/5
2a + 2000 = 5000
2a = 3000
a = 1500
Selling price of X = 7/5(a + 1000) = 3500
Now,
Cost price = a + 500 = 2000
Selling price of B is 14.28% less than selling price of article X
Selling price = 6/7 x 3500 (14.28% = 1/7)
= 3000
Profit% = (SP - CP)/CP x100 = (3000 - 2000)/2000 x 100 = 50%
Hence option (3) is correct.