Question : Rajkumar decides to sell his watch at a discount of 5%. However, his brother purchases it from him and receives an 8% discount. Raj loses Rs. 45 in profit as a result of this. What was the watch's marked price?
Option 1: Rs. 1,500
Option 2: Rs. 1,410
Option 3: Rs. 1,430
Option 4: Rs. 1,560
Correct Answer: Rs. 1,500
Solution :
Let the marked price of the watch be $x$.
After the 5% discount the selling price = $x×(\frac{100-5}{100})$ = $\frac{95x}{100}$
Also after an 8% discount the selling price = $x×(\frac{100-8}{100})$ = $\frac{92x}{100}$
According to the question,
$\frac{95x}{100}-\frac{92x}{100}=45$
⇒ $3x=4500$
⇒ $x=\frac{4500}{3}=1,500$
Hence, the correct answer is Rs. 1,500.
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