Question : A dealer buys an article listed at INR 3,000 and gets successive discounts of 15% and 15%. He spends INR 250 on transportation and sells it at a profit of 20%. Find the selling price of the article.
Option 1: INR 3,300
Option 2: INR 2,901
Option 3: INR 3,250
Option 4: INR 3,200
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Correct Answer: INR 2,901
Solution : Given, Marked price = INR 3000 Discounts = 15% and 15% The cost of transportation = INR 250 Required profit = 20% SP = $\frac{100 - \text{Discount %}}{100}$ × MP Where SP is the selling price and MP is the marked price So, the SP = $3000 × \frac{100 - 15}{100} × \frac{100 - 15}{100}$ = $3000 × \frac{85}{100} × \frac{85}{100}$ = $\frac{3 × 85 × 85}{10}$ = INR 2167.50 Now, the total cost (CP) = 2167.50 + 250 = INR 2417.5 Also, SP = CP × $\frac{100 + \text{Profit %}}{100}$ = 2417.5 × $\frac{100 + 20}{100}$ = 2417.5 × $\frac{120}{100}$ = INR 2901 Hence, the correct answer is INR 2,901.
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