6 Views

Question : A manufacturer marked an item at INR 75 and sold it allowing a 14% discount. If his profit was 29%, then the cost price (in INR) of the item was:

Option 1: 64

Option 2: 57

Option 3: 45

Option 4: 50


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: 50


Solution : Let's denote the cost price of the item as $C$.
The item was marked at INR 75, and a 14% discount was given.
⇒ The selling price (SP) is 86% of the marked price.
⇒ $SP=0.86×\text{Marked Price}$
⇒ $SP=0.86×75$
Now, the profit percentage (P) is given by the formula:
P $=\frac{\text{Selling Price−Cost Price}}{\text{Cost Price}}​×100$
In this case, the profit percentage is 29%,
⇒ $29=\frac{(0.86×75)−C}{C}​×100$
⇒ $29=\frac{64.5−C}{C}​×100$
⇒ $29C=6450−100C$
⇒ $129C=6450$
⇒ $C=\frac{6450}{129}$​
⇒ $C=50$
Hence, the correct answer is 50.

How to crack SSC CHSL

Candidates can download this e-book to give a boost to thier preparation.

Download Now

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books