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A wholeseller supplies few chips to a retailer every year. Each chip costs Rs 10,000 to the wholeseller. 5% of the chips are defective and they are to be replaced without charging anything extra. If the wholeseller still makes a profit of 20%, at what price is he selling it to retailer?
- a)Rs 12,300
- b)Rs 12,600
- c)Rs 13,200
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A wholeseller supplies few chips to a retailer every year. Each chip c...
Let No. of chips supplied = 100
For whole seller, Net CP = (10000 x 100 + 5 x 10000) = Rs 1050000
Most Upvoted Answer
A wholeseller supplies few chips to a retailer every year. Each chip c...
To find the price at which the wholesaler sells the chips to the retailer, we need to consider the cost price, defective chips, and the desired profit margin.
1. Cost Price:
Each chip costs Rs 10,000 to the wholesaler.
2. Defective Chips:
5% of the chips are defective and need to be replaced without any extra charge. This means that the wholesaler incurs a cost for these defective chips.
3. Profit Margin:
The wholesaler wants to make a profit of 20% on the selling price.
Let's calculate the selling price step by step:
Step 1: Calculate the replacement cost for defective chips.
- Since 5% of the chips are defective, the number of defective chips is 5% of the total number of chips.
- Let's assume the total number of chips is 100 (for easier calculations).
- So, the number of defective chips is 5% of 100, which is 5 chips.
- The replacement cost for the defective chips is 5 chips * Rs 10,000 per chip = Rs 50,000.
Step 2: Calculate the total cost for all the chips.
- The total cost for all the chips is the cost price per chip multiplied by the total number of chips.
- Assuming the total number of chips is 100, the total cost for all the chips is 100 chips * Rs 10,000 per chip = Rs 1,000,000.
Step 3: Calculate the selling price.
- The selling price is the cost price plus the profit margin.
- The profit margin is 20% of the selling price.
- Let's assume the selling price is 'S'.
- So, the profit margin is 20% of S, which is 0.2S.
- The cost price is Rs 1,000,000 + Rs 50,000 (replacement cost for defective chips) = Rs 1,050,000.
- Therefore, the selling price is Rs 1,050,000 + 0.2S.
Step 4: Find the selling price.
- Equating the selling price from Step 3, we have: Rs 1,050,000 + 0.2S = S.
- Solving this equation, we find S = Rs 1,312,500.
Therefore, the wholesaler sells the chips to the retailer at a price of Rs 1,312,500.
The correct option is (d) None of these.
1. Cost Price:
Each chip costs Rs 10,000 to the wholesaler.
2. Defective Chips:
5% of the chips are defective and need to be replaced without any extra charge. This means that the wholesaler incurs a cost for these defective chips.
3. Profit Margin:
The wholesaler wants to make a profit of 20% on the selling price.
Let's calculate the selling price step by step:
Step 1: Calculate the replacement cost for defective chips.
- Since 5% of the chips are defective, the number of defective chips is 5% of the total number of chips.
- Let's assume the total number of chips is 100 (for easier calculations).
- So, the number of defective chips is 5% of 100, which is 5 chips.
- The replacement cost for the defective chips is 5 chips * Rs 10,000 per chip = Rs 50,000.
Step 2: Calculate the total cost for all the chips.
- The total cost for all the chips is the cost price per chip multiplied by the total number of chips.
- Assuming the total number of chips is 100, the total cost for all the chips is 100 chips * Rs 10,000 per chip = Rs 1,000,000.
Step 3: Calculate the selling price.
- The selling price is the cost price plus the profit margin.
- The profit margin is 20% of the selling price.
- Let's assume the selling price is 'S'.
- So, the profit margin is 20% of S, which is 0.2S.
- The cost price is Rs 1,000,000 + Rs 50,000 (replacement cost for defective chips) = Rs 1,050,000.
- Therefore, the selling price is Rs 1,050,000 + 0.2S.
Step 4: Find the selling price.
- Equating the selling price from Step 3, we have: Rs 1,050,000 + 0.2S = S.
- Solving this equation, we find S = Rs 1,312,500.
Therefore, the wholesaler sells the chips to the retailer at a price of Rs 1,312,500.
The correct option is (d) None of these.
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Community Answer
A wholeseller supplies few chips to a retailer every year. Each chip c...
Let No. of chips supplied = 100
For whole seller, Net CP = (10000 x 100 + 5 x 10000) = Rs 1050000
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A wholeseller supplies few chips to a retailer every year. Each chip costs Rs 10,000 to the wholeseller. 5% of the chips are defective and they are to be replaced without charging anything extra. If the wholeseller still makes a profit of 20%, at what price is he selling it to retailer?a)Rs 12,300b)Rs 12,600c)Rs 13,200d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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A wholeseller supplies few chips to a retailer every year. Each chip costs Rs 10,000 to the wholeseller. 5% of the chips are defective and they are to be replaced without charging anything extra. If the wholeseller still makes a profit of 20%, at what price is he selling it to retailer?a)Rs 12,300b)Rs 12,600c)Rs 13,200d)None of theseCorrect answer is option 'B'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A wholeseller supplies few chips to a retailer every year. Each chip costs Rs 10,000 to the wholeseller. 5% of the chips are defective and they are to be replaced without charging anything extra. If the wholeseller still makes a profit of 20%, at what price is he selling it to retailer?a)Rs 12,300b)Rs 12,600c)Rs 13,200d)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A wholeseller supplies few chips to a retailer every year. Each chip costs Rs 10,000 to the wholeseller. 5% of the chips are defective and they are to be replaced without charging anything extra. If the wholeseller still makes a profit of 20%, at what price is he selling it to retailer?a)Rs 12,300b)Rs 12,600c)Rs 13,200d)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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