Question : A shopkeeper purchased a chair marked at Rs. 600 at two successive discounts of 15% and 20% respectively. He spent Rs. 28 on transportation and sold the chair for Rs. 545. His gain percentage was:
Option 1: 25%
Option 2: 30%
Option 3: 35%
Option 4: 20%
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Correct Answer: 25%
Solution :
(Single equivalent discount = $(a+b-\frac{a\:×\:b}{100}$)%, where $a$% and $b$% are successive discounts.)
Single equivalent discount = $(15+20-\frac{15\:×\:20}{100}$)= 32%
After two successive discount cost price = 600 $\times$ 68% = 408
Total cost = 408 + 28 = 436
Selling price = 545
Gain percent = $\frac{545 \:-\: 436}{436}\times 100 = 25$%
Hence, the correct answer is $25$%.
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