Naman bought a product at 30 discount on MRP and claims to sell it at profit of 20 on his cost price...........

Quant (SSC) Profit and loss

Naman bought a product at 30% discount on MRP, and claims to sell it at profit of 20% on his cost price. When Shubham offered him Rs. 600, he cheated again, by giving him Rs. 100 instead of Rs. 200. Find overall profit of Naman?

50%

40%

45%

60%

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Explanation:

Let the MRP be Rs.100, Cost price = Rs. 70 and Selling Price = Rs. 70(1.2) = Rs. 84
Shubham gave him Rs. 600, he should have returned Rs. 200.
Actual S.P = 600 – 200 = 400
84 unit corresponds to 400
1 unit will correspond to 400 /84 = 100 /21
Profit = 84 – 70 = 14
14 units corresponds to 100 × 14/21 = 200/3
He returned Rs. 100 instead of Rs. 200. So, he cheated of Rs. 100.
Actual profit = 200 /3 + 100 = 500/3
CP = Rs. 70
70 will correspond to 100 × 70/21 = 7000/21
Actual profit % = 500 × 21 × 100 /3 × 7000 → 50%