Multiple Choice Questions on In an exhibition Almond bought a painting for Rs 20000 He later sold it to Olive for Rs 23000 Olive ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

In an exhibition Almond bought a painting for Rs 20000 He later sold it to Olive for Rs 23000 Olive ...........

Quantitative Aptitude ( CCS) Profit and loss
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    In an exhibition, Almond bought a painting for Rs. 20000. He later sold it to Olive for Rs. 23000. Olive sold it to Sarah for double the profit percentage that Almond earned. At what price should Sarah sell this painting to earn 8% profit ?

    34410

    Incorrect Answer

    31184

    Incorrect Answer

    32292

    Correct Answer

    29999

    Incorrect Answer
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    Explanation:

    Almond Selling price = CP(1 + P%/100)

    => CP = 20000, SP = 23000

    => 23000 = 20000 (1 + P/100)

    => P% = 100(23000/20000 - 1) = 15

    Then, Olive's P% = 30%

    SP for Olive = CP for Sarah = 23000(1 + 30/100) = 29900

    Now Sarah wants to earn profit of 8%

    => Sp for Sarah = 29900(1 + 8/100)

    = Rs. 32,292.

    Hence, option 4 is the correct answer.

    By: Amit Kumar
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