Profit and loss

Quantitative Aptitude (MTS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

John sold a watch to Sue at a gain of 20%, and Sue sold it to Rima at a profit of 10%. If Rima paid Rs2,178 for it. how much did

John pay (in Rs) for the watch?

1,650

1,780

1,478

1,200

- Rima paid Rs 2,178 for the watch.

- Sue sold it to Rima at a profit of 10%. Therefore, the price at which Sue sold it is the cost price for Rima.

- Let x be the price Sue paid; thus, \(1.1x = 2178\).

- Solving, \(x = \frac{2178}{1.1} = 1980\). So, Sue paid Rs 1,980.

- John sold it to Sue at a gain of 20%.

- Let y be the price John paid; therefore, \(1.2y = 1980\).

- Solving, \(y = \frac{1980}{1.2} = 1650\). So, John paid Rs 1,650.

- Correct Option: 1, \(\text{Rs 1,650} \)