The cost price of an article is rs 500 if it is sold at a profit of 20 what is its selling price

136.

Last year Mr. A bought two paintings. This year he sold them for Rs. 20,000 each. On one, he made a 25% profit and on the other hand he had a 25% loss. Then his net profit or loss is

• He lost more than Rs. 2000

• He lost less than Rs. 2000

• He earned more than Rs. 2000

• He earned more than Rs. 2000

A.

He lost more than Rs. 2000

C.P. of first painting
   

India's Super Teachers for all govt. exams Under One Roof

Enroll For Free Now

Given:

The CP of an article = Rs. 500

First Profit on selling the article = 5%

Second Profit on selling the article = 10%

Formula Used:

When two successive profits of a% and b% are received on selling an article, the overall profit percentage = [a + b + (ab/100)]

Selling Price = [(100 + Profit%)/100] × Cost Price

Calculation:

Two successive profits of 5% and 10% are given, the overall profit in the transaction = [5 + 10 + {(5 × 10)/100}]

⇒ 15.5%

Hence the final Selling Price = [(100 + 15.5)/100] × 500

⇒ Rs. 577.5

∴ The resultant selling price of the article is Rs. 577.5

Let's discuss the concepts related to Profit and Loss and Successive Selling. Explore more from Quantitative Aptitude here. Learn now!

India’s #1 Learning Platform

Start Complete Exam Preparation

Daily Live MasterClasses

Practice Question Bank

Mock Tests & Quizzes

Get Started for Free Download App

Trusted by 3.4 Crore+ Students

Distribute the referral code to your friends and ask them to register with Tutorix using this referral code.

Once we get 15 subscriptions with your referral code, we will activate your 1 year subscription absolutely free.

Your subscribed friend will also get 1 month subscription absolutely free.