Question : An article is listed at Rs. 2375. A man purchases it at two successive discounts of 50% and 25% and spends Rs. 165 on the repair of the article. If he sells the article at a profit of 62.5%, what is the selling price (in rupees) of the article?
Option 1: 1467.6
Option 2: 1492.6
Option 3: 1715.39
Option 4: 1460.6
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Correct Answer: 1715.39
Solution :
Marked price = Rs. 2375
Price after two successive discounts of 50% and 25%
= Rs. 2375 × $\frac{50}{100}$×$\frac{75}{100}$
= Rs. 890.625
Amount spent on the repair of the article = Rs. 165
So, cost price = Rs. 890.625 + Rs.165 = Rs. 1055.625
Profit = 62.5% of Cost price = 62.5% of Rs. 1055.625
$\therefore$ Selling price = 1055.625 + 62.5% of Rs. 1055.625 = 1055.525 + 659.765 = Rs. 1715.39
Hence, the correct answer is 1715.39.
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