Question : On an item having a marked price of INR 500, Ravi was offered successive discounts of 36% and 5%, respectively, while Prabhat was offered a single discount of 40%. Who paid more for the item and by how much?
Option 1: Ravi, 4
Option 2: Prabhat, 5
Option 3: Ravi, 5
Option 4: Prabhat, 4
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Correct Answer: Ravi, 4
Solution :
Discounted price for Ravi = 500 × $\frac{100-36}{100}$ × $\frac{100-5}{100}$
= 500 × $\frac{64}{100}$ × $\frac{95}{100}$
= INR 304
Now, for Prabhat, a single discount of 40% is given,
Discounted price for Prabhat = 500 × $\frac{100-40}{100}$
= 500 × $\frac{60}{100}$
= INR 300
From the final prices of Ravi and Prabhat, it can be seen that Ravi paid more amount.
Difference = 304 - 300 = INR 4
Hence, the correct answer is Ravi, 4.
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