After allowing a discount of 15%, the value of a washing machine is Rs.29,750. If no discount is allowed, then the shopkeeper gains 12%. The cost price of the washing machine is:
This questions was previously asked in
Combined Graduate Level Examination Tier I 2023
Rs.31,500
Incorrect AnswerRs.31,150
Incorrect AnswerRs.32,000
Incorrect AnswerExplanation:
- The marked price after a 15% discount results in the selling price being Rs.29,750.
- Calculate the marked price by using:
Marked Price = Selling Price / (1 - Discount Rate)
Marked Price = 29,750 / (1 - 0.15) = Rs.35,000.
- This marked price gives a 12% gain if sold without discount.
- To find the cost price (CP), use:
CP = Marked Price / (1 + Gain Rate)
CP = 35,000 / (1 + 0.12) = Rs.31,250.
- Option 1: Rs.31,250 is indeed the correct cost price.
Answer: Option 1 - Rs.31,250
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By: Parvesh Mehta