Question : Ram sells a suitcase to Mohan at a 20% profit. Mohan sells it to Shyam at a 40% profit. If Shyam pays INR 1,430 for it, then the price at which Ram bought it is:
Option 1: INR 875
Option 2: INR 870
Option 3: INR 880
Option 4: INR 851.19
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Correct Answer: INR 851.19
Solution :
Given:
Ram sells a suitcase to Mohan at a 20% profit. Mohan sells it to Shyam at a 40% profit.
If the price at which Ram bought the suitcase is INR $x$. Then, $x \times \frac{120}{100} \times \frac{140}{100}$ = 1,430
⇒ $x = \frac{(1430 × 100 × 100)}{(120 × 140)}$ = INR 851.19
Hence, the correct answer is INR 851.19.
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