Question : A merchant purchases a wristwatch for Rs. 450 and fixes its list price in such a way that, after allowing a discount of 10%, he earns a profit of 20%. Find the list price of the watch.
Option 1: Rs. 480
Option 2: Rs. 450
Option 3: Rs. 600
Option 4: Rs. 540
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Correct Answer: Rs. 600
Solution : Cost price of the watch = Rs. 450 Profit percentage = 20% The selling price of the watch = cost price + profit = $450 + 20$% of $450$ = $450 + \frac{20 × 450}{100}$ = $450+\frac{9000}{100}$ = $450 + 90$ = $540$ Discount = 10% ⇒ Selling price + 10% of list price = list price ⇒ 90% of list price = 540 ⇒ List price = $\frac{540 × 100}{90}$ = Rs. $600$ Hence, the correct answer is Rs. 600.
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