An article is sold at 25% discount but charged 10% tax on the selling price. If the marked price is 50% above the cost price and the article is sold at Rs.85.5 more than the cost price. Find the cost price of the article.
This questions was previously asked in
RRB PO Prelims (05 Aug, 2023 Shift 2)
None of these
Incorrect AnswerExplanation:
- The marked price (MP) is 50% above the cost price (CP), so MP = 1.5 × CP.
- A 25% discount is given, so the selling price (SP) = MP × 0.75.
- A 10% tax is added, making the sale price (final price) = SP × 1.10.
- We are given that this final sale price is Rs.85.5 more than the cost price (CP).
Let's solve:
1. Let CP be 'x'.
2. Marked price (MP) = 1.5x.
3. Selling price after discount = 1.5x × 0.75 = 1.125x.
4. Sale price with tax = 1.125x × 1.10 = 1.2375x.
5. This is Rs.85.5 more than cost price. So, 1.2375x = x + 85.5.
6. 0.2375x = 85.5.
7. x = 85.5 / 0.2375 = 360.
- The Cost Price is Rs.360.
- Option 1: Rs.390 (incorrect)
- Option 2: Rs.360 (correct)
- Option 3: Rs.420 (incorrect)
- Option 4: Rs.400 (incorrect)
- Option 5: None of these (incorrect)
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By: Parvesh Mehta