Question : P sells a toy to Q at a profit of 40 percent and Q sells it to R at a profit of 10 percent. If R pays Rs. 539 for the toy, then what was the cost price of the toy for P?
Option 1: Rs. 450
Option 2: Rs. 300
Option 3: Rs. 400
Option 4: Rs. 350
Correct Answer: Rs. 350
Solution :
Given: P sells a toy to Q at a profit of 40 percent and Q sells it to R at a profit of 10 percent.
Let the cost price (CP) of the toy for P be Rs. $x$
According to the question,
$x×\frac{100+40}{100}×\frac{100+10}{100}=539$
⇒ $x=539×\frac{100}{110}×\frac{100}{140}$
⇒ $x=350$
Hence, the correct answer is Rs. 350.
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