Question : Rajiv sells a book to Mohan at a profit of 9% and Mohan sells it to Gopal at a profit of 13%. If Gopal pays Rs. 12,317 for it. Find the cost price for Rajiv.
Option 1: Rs. 15,000
Option 2: Rs. 11,000
Option 3: Rs. 16,000
Option 4: Rs. 10,000
Correct Answer: Rs. 10,000
Solution :
Given: Rajiv sells a book to Mohan at a profit of 9% and Mohan sells it to Gopal at a profit of 13%. Gopal pays Rs. 12,317 for it.
Let the cost price (CP) for Rajiv be $x$.
According to the question,
$x×\frac{100+9}{100}×\frac{100+13}{100}=12317$
⇒ $x=12317×\frac{100}{109}×\frac{100}{113}$
⇒ $x=10,000$
Hence, the correct answer is Rs. 10,000.
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