The marked price of a ceiling fan is Rs.4,200 and the shopkeeper allows a discount of 5% on it. If his profit is 14%, then the cost price of the fan is:
This questions was previously asked in
Combined Graduate Level Examination Tier I 2023
Rs.3,200
Incorrect AnswerRs.3,800
Incorrect AnswerRs.3,000
Incorrect AnswerExplanation:
- The marked price of the ceiling fan is Rs. 4,200.
- A 5% discount is offered, so the selling price becomes 95% of the marked price.
- Selling Price = 95% of Rs. 4,200 = Rs. 3,990.
- The profit is 14%, which means the Selling Price is 114% of the Cost Price.
- Let the Cost Price be Rs. x.
- Then, Selling Price = 114% of Cost Price = 1.14 * x.
- We know the selling price is Rs. 3,990.
- So, 1.14 * x = Rs. 3,990.
- Solving this, Cost Price (x) = Rs. 3,500.
- Correct Answer:
- Option 4: Rs. 3,500.
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By: Parvesh Mehta