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%. Then the list price of the watch is:
Option 1: Rs. 650
Option 2: Rs. 700
Option 3: Rs. 550
Option 4: Rs. 600
Correct Answer: Rs. 600
Solution :
Let the listed price be $x$
Discount is $\frac{x}{10}$.
The selling price is $\frac{9x}{10}$
Given profit percentage is 20%.
So, selling price is $\frac{x}{10}$ = 120 × $\frac{450}{100}$
⇒ $\frac{9x}{10}$ = 540
⇒ x = 600
Hence, the answer is Rs. 600.
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