A shopkeeper earns a profit of 40% on the cost price of an article after giving three consecutive discounts of 5%, 10% and 15%
to a customer. What would have been the profit percentage, had the shopkeeper given discounts of 5% and 10% only?
This questions was previously asked in
SSC MTS 8th October 2021 Shift-1
Explanation:
- Let's assume the cost price (CP) = ?100.
- Given: Profit = 40% on CP, so selling price (SP) = ?140.
- Three discounts given: 5%, 10%, and 15%.
Step 1: Calculate Marked Price (MP)
- Let the MP be x.
- After 5% discount: 0.95x
- After 10% discount: 0.95x × 0.90 = 0.855x
- After 15% discount: 0.855x × 0.85 = 0.72675x
- We’re told 0.72675x = ?140
? x = 140 / 0.72675 ˜ ?192.64
Step 2: If only two discounts are given (5% and 10%):
- New SP = 0.95 × 0.90 × MP
= 0.855 × ?192.64 ˜ ?164.99
Step 3: Calculate new profit %:
- Profit = 164.99 - 100 = ?64.99
- Profit % = (64.99 / 100) × 100 = 64.99%
Step 4: Match with options:
- Option 1: 59.71%
- Option 2: 66.71%
- Option 3: 64.71%
- Option 4: 74.71%
- Correct answer is Option 3: 64.71%
- Option 3 fits our calculation best.
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By: santosh