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While I was shopping in Kamla Nagar market for my baby girl Tatto, I came across two shopkeepers who were giving me a discount of same amount for a top. While first shopkeeper was offering a discount of 14.28%, second shopkeeper was offering a discount of 12.5% over their respective mark-ups. Whose cost price is higher?
- a)1st shopkeeper
- b)2nd shopkeeper
- c)Either of them depending upon their respective MP
- d)Cannot be determined
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
While I was shopping in Kamla Nagar market for my baby girl Tatto, I c...
According to the information given in the question,
While the first shopkeeper was offering a discount of 14.28%, the second shopkeeper was offering a discount of 12.5% over their respective mark-ups.
We need to find a shopkeeper whose cost price is higher.
After analyzing the given statement, we get that
14.28% of mark-up of the first shopkeeper =12.5% of mark-up of the second shopkeeper.
With this given information, we can compare the mark-up price, whereas nothing can be said about the cost prices of the shopkeepers.
Hence, the correct answer is "cannot be determined".
Most Upvoted Answer
While I was shopping in Kamla Nagar market for my baby girl Tatto, I c...
Introduction:
In this question, we are given that two shopkeepers are offering a discount of the same amount for a top. The first shopkeeper is offering a discount of 14.28%, while the second shopkeeper is offering a discount of 12.5% over their respective mark-ups. We need to determine whose cost price is higher.
Approach:
To determine whose cost price is higher, we need to compare the selling prices of the tops offered by both shopkeepers. We can calculate the selling prices by subtracting the discounts from the mark-ups.
Calculating the Selling Price:
Let's assume the cost price of the top is 'C'.
First Shopkeeper:
The first shopkeeper is offering a discount of 14.28%.
So, the selling price of the top offered by the first shopkeeper is:
Selling price = C - (14.28/100)C = 0.8572C
Second Shopkeeper:
The second shopkeeper is offering a discount of 12.5% over their respective mark-ups.
Let's assume the mark-up of the second shopkeeper is 'M'.
So, the selling price of the top offered by the second shopkeeper is:
Selling price = C + (12.5/100)M - (12.5/100)(C + (12.5/100)M)
= C + (12.5/100)M - (12.5/100)C - (12.5/100)(12.5/100)M
= 0.8875C + (0.125 - (0.125/100))M
= 0.8875C + 0.124375M
Comparing the Selling Prices:
We can see that the selling price of the top offered by the first shopkeeper is 0.8572C, while the selling price of the top offered by the second shopkeeper is 0.8875C + 0.124375M.
Since the values of C and M are not given, we cannot directly compare the selling prices.
Therefore, we cannot determine whose cost price is higher based on the given information.
Conclusion:
The correct answer is option 'D' - Cannot be determined. The cost price of the tops offered by the first and second shopkeepers cannot be determined solely based on the given discounts and mark-ups. Additional information about the values of C and M is required to make a definitive comparison.
In this question, we are given that two shopkeepers are offering a discount of the same amount for a top. The first shopkeeper is offering a discount of 14.28%, while the second shopkeeper is offering a discount of 12.5% over their respective mark-ups. We need to determine whose cost price is higher.
Approach:
To determine whose cost price is higher, we need to compare the selling prices of the tops offered by both shopkeepers. We can calculate the selling prices by subtracting the discounts from the mark-ups.
Calculating the Selling Price:
Let's assume the cost price of the top is 'C'.
First Shopkeeper:
The first shopkeeper is offering a discount of 14.28%.
So, the selling price of the top offered by the first shopkeeper is:
Selling price = C - (14.28/100)C = 0.8572C
Second Shopkeeper:
The second shopkeeper is offering a discount of 12.5% over their respective mark-ups.
Let's assume the mark-up of the second shopkeeper is 'M'.
So, the selling price of the top offered by the second shopkeeper is:
Selling price = C + (12.5/100)M - (12.5/100)(C + (12.5/100)M)
= C + (12.5/100)M - (12.5/100)C - (12.5/100)(12.5/100)M
= 0.8875C + (0.125 - (0.125/100))M
= 0.8875C + 0.124375M
Comparing the Selling Prices:
We can see that the selling price of the top offered by the first shopkeeper is 0.8572C, while the selling price of the top offered by the second shopkeeper is 0.8875C + 0.124375M.
Since the values of C and M are not given, we cannot directly compare the selling prices.
Therefore, we cannot determine whose cost price is higher based on the given information.
Conclusion:
The correct answer is option 'D' - Cannot be determined. The cost price of the tops offered by the first and second shopkeepers cannot be determined solely based on the given discounts and mark-ups. Additional information about the values of C and M is required to make a definitive comparison.
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Community Answer
While I was shopping in Kamla Nagar market for my baby girl Tatto, I c...
Since Mark up value is not provided, answer is Option 'D'.
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While I was shopping in Kamla Nagar market for my baby girl Tatto, I came across two shopkeepers who were giving me a discount of same amount for a top. While first shopkeeper was offering a discount of 14.28%, second shopkeeper was offering a discount of 12.5% over their respective mark-ups. Whose cost price is higher?a)1st shopkeeperb)2nd shopkeeperc)Either of them depending upon their respective MPd)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?
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While I was shopping in Kamla Nagar market for my baby girl Tatto, I came across two shopkeepers who were giving me a discount of same amount for a top. While first shopkeeper was offering a discount of 14.28%, second shopkeeper was offering a discount of 12.5% over their respective mark-ups. Whose cost price is higher?a)1st shopkeeperb)2nd shopkeeperc)Either of them depending upon their respective MPd)Cannot be determinedCorrect answer is option 'D'. 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 While I was shopping in Kamla Nagar market for my baby girl Tatto, I came across two shopkeepers who were giving me a discount of same amount for a top. While first shopkeeper was offering a discount of 14.28%, second shopkeeper was offering a discount of 12.5% over their respective mark-ups. Whose cost price is higher?a)1st shopkeeperb)2nd shopkeeperc)Either of them depending upon their respective MPd)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for While I was shopping in Kamla Nagar market for my baby girl Tatto, I came across two shopkeepers who were giving me a discount of same amount for a top. While first shopkeeper was offering a discount of 14.28%, second shopkeeper was offering a discount of 12.5% over their respective mark-ups. Whose cost price is higher?a)1st shopkeeperb)2nd shopkeeperc)Either of them depending upon their respective MPd)Cannot be determinedCorrect answer is option 'D'. Can you explain this answer?.
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