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Samant bought a microwave oven and paid 10% less than Maximum Retail Price(MRP). He sold it with a 30% profit on his purchase cost. What percentage of profit did he earn on MRP?
  • a)
    17%
  • b)
    20%
  • c)
    27%
  • d)
    32%
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Samant bought a microwave oven and paid 10% less than Maximum Retail P...
Let the original price = Rs. 100
Then, C.P. = Rs. 90
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Most Upvoted Answer
Samant bought a microwave oven and paid 10% less than Maximum Retail P...
Given:
- Samant bought a microwave oven and paid 10% less than Maximum Retail Price (MRP).
- He sold it with a 30% profit on his purchase cost.

To Find:
- What percentage of profit did he earn on MRP?

Assumptions:
- Let's assume the MRP of the microwave oven is denoted by 'x'.
- Samant bought the oven at 10% less than the MRP, so the purchase cost is 90% of the MRP.

Calculations:
1. Purchase Cost:
- Samant bought the oven at 10% less than the MRP, so the purchase cost is 90% of the MRP.
- Purchase cost = 90% of x = (90/100) * x = 0.9x

2. Selling Price:
- Samant sold the oven at a 30% profit on his purchase cost.
- Selling price = Purchase cost + Profit
- Selling price = 0.9x + 30% of 0.9x
- Selling price = 0.9x + (30/100) * 0.9x
- Selling price = 0.9x + 0.27x
- Selling price = 1.17x

3. Profit:
- Profit = Selling Price - Purchase Cost
- Profit = 1.17x - 0.9x
- Profit = 0.27x

4. Profit Percentage on MRP:
- Profit percentage on MRP = (Profit / MRP) * 100
- Profit percentage on MRP = (0.27x / x) * 100
- Profit percentage on MRP = 0.27 * 100
- Profit percentage on MRP = 27%

Conclusion:
- Samant earned a profit of 27% on the Maximum Retail Price (MRP) of the microwave oven.
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Samant bought a microwave oven and paid 10% less than Maximum Retail Price(MRP). He sold it with a 30% profit on his purchase cost. What percentage of profit did he earn on MRP?a)17%b)20%c)27%d)32%Correct answer is option 'A'. Can you explain this answer?
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