A shopkeeper offers the following discount schemes for buyers on an article: i. Two successive discounts of 15% each ii. A discount of 25% followed by a discount of 5% iii. Two successive discounts of 20% and 10% iv. A discount of 30% Under which scheme will the selling price be maximum?
This questions was previously asked in
Combined Graduate Level Examination Tier I 2023
Scheme iv
Incorrect AnswerScheme iii
Incorrect AnswerScheme ii
Incorrect AnswerExplanation:
To determine the maximum selling price, let's evaluate each discount scheme on a marked price of 100 units.
- Scheme i: Two successive discounts of 15% each
- First discount: 100 * 0.85 = 85
- Second discount: 85 * 0.85 = 72.25
- Scheme ii: A discount of 25% followed by a discount of 5%
- First discount: 100 * 0.75 = 75
- Second discount: 75 * 0.95 = 71.25
- Scheme iii: Two successive discounts of 20% and 10%
- First discount: 100 * 0.8 = 80
- Second discount: 80 * 0.9 = 72
- Scheme iv: A discount of 30%
- Single discount: 100 * 0.7 = 70
The selling prices for schemes are:
- Scheme i: 72.25
- Scheme ii: 71.25
- Scheme iii: 72
- Scheme iv: 70
The maximum selling price is for Scheme i with 72.25 units.
The correct Answer is Option 4: Scheme i.
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By: Parvesh Mehta