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The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?
- a)1239
- b)1240
- c)1252
- d)1254
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
The profit percentage earned by selling an item for Rs. 1078 is equal...
Let CP be x.
As per the given condition,
(1078 - x)/x = (x - 882)/x
⇒ 1078 - x = x - 882
⇒ x = 980
Selling price in order to make 15% profit = 980 x 1.15 = Rs 1127.
Hence Marked Price of the item should be (10/9)*1127 = Rs. 1252.
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Community Answer
The profit percentage earned by selling an item for Rs. 1078 is equal...
To solve this question, let's break it down into smaller steps:
Step 1: Find the cost price
Let the cost price of the item be 'x'.
Given that the profit percentage earned by selling the item for Rs. 1078 is equal to the percentage loss incurred by selling the item for Rs. 882.
We can write this as:
Profit% = Loss%
The profit percentage is calculated as:
Profit% = (Selling Price - Cost Price) / Cost Price * 100
For selling price Rs. 1078, the profit percentage is:
(1078 - x) / x * 100
The loss percentage is calculated as:
Loss% = (Cost Price - Selling Price) / Cost Price * 100
For selling price Rs. 882, the loss percentage is:
(x - 882) / x * 100
So, according to the given condition:
(1078 - x) / x * 100 = (x - 882) / x * 100
We can cancel out the common factors:
1078 - x = x - 882
Simplifying further:
2x = 1078 + 882
2x = 1960
x = 1960 / 2
x = 980
Therefore, the cost price of the item is Rs. 980.
Step 2: Calculate the marked price
Let the marked price be 'M'.
Given that the item is to be sold at approximately 15% profit after giving a 10% discount to the customer.
The selling price after a 10% discount is:
Selling Price = Marked Price - (10/100) * Marked Price
Selling Price = Marked Price - 0.1 * Marked Price
Selling Price = Marked Price - 0.1M
To achieve a 15% profit, the selling price should be:
Selling Price = Cost Price + (15/100) * Cost Price
Selling Price = 980 + 0.15 * 980
Selling Price = 980 + 147
Selling Price = 1127
Since Selling Price = Marked Price - 0.1M, we can substitute the value of Selling Price:
1127 = M - 0.1M
1127 = 0.9M
Simplifying further:
M = 1127 / 0.9
M = 1252
Therefore, the marked price of the item should be approximately Rs. 1252.
Hence, the correct answer is option C) 1252.
Step 1: Find the cost price
Let the cost price of the item be 'x'.
Given that the profit percentage earned by selling the item for Rs. 1078 is equal to the percentage loss incurred by selling the item for Rs. 882.
We can write this as:
Profit% = Loss%
The profit percentage is calculated as:
Profit% = (Selling Price - Cost Price) / Cost Price * 100
For selling price Rs. 1078, the profit percentage is:
(1078 - x) / x * 100
The loss percentage is calculated as:
Loss% = (Cost Price - Selling Price) / Cost Price * 100
For selling price Rs. 882, the loss percentage is:
(x - 882) / x * 100
So, according to the given condition:
(1078 - x) / x * 100 = (x - 882) / x * 100
We can cancel out the common factors:
1078 - x = x - 882
Simplifying further:
2x = 1078 + 882
2x = 1960
x = 1960 / 2
x = 980
Therefore, the cost price of the item is Rs. 980.
Step 2: Calculate the marked price
Let the marked price be 'M'.
Given that the item is to be sold at approximately 15% profit after giving a 10% discount to the customer.
The selling price after a 10% discount is:
Selling Price = Marked Price - (10/100) * Marked Price
Selling Price = Marked Price - 0.1 * Marked Price
Selling Price = Marked Price - 0.1M
To achieve a 15% profit, the selling price should be:
Selling Price = Cost Price + (15/100) * Cost Price
Selling Price = 980 + 0.15 * 980
Selling Price = 980 + 147
Selling Price = 1127
Since Selling Price = Marked Price - 0.1M, we can substitute the value of Selling Price:
1127 = M - 0.1M
1127 = 0.9M
Simplifying further:
M = 1127 / 0.9
M = 1252
Therefore, the marked price of the item should be approximately Rs. 1252.
Hence, the correct answer is option C) 1252.
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The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer?
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The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer?.
The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The profit percentage earned by selling an item for Rs. 1078 is equal to the percentage loss incurred by selling the same item for Rs. 882. What should be the Marked Price of the item if it is to be sold at approximately 15% profit, after giving 10% discount to the customer?a)1239b)1240c)1252d)1254Correct answer is option 'C'. Can you explain this answer?.
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