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22 Nov 2020, 10:33
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A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
32% (03:28) correct
68%
(02:58)
wrong
based on 41
sessions
History
Date
Time
Result
Not Attempted Yet
In Y1, a shopkeeper marked a shirt 25% above the cost price but gave a 12.5% discount. In Y2, the marked price of the shirt was Rs 654. The shopkeeper gave a discount on the marked price of the shirt so that the discounted marked price of the shirt inclusive of sales tax was Rs 654. If the cost price of the shirt in Y2 was Rs 900 greater than the discount and the selling price of the shirt in Y1 was Rs 875. Assuming that sales tax was not charged in Y1, what was the percentage increase in the cost price of the shirt from Y1 to Y2?
Note: 9% sales tax was charged on the discounted marked price.
A. 19.25%
B. 22.50%
C. 25.25%
D. 28.50%
E. 34.25%
Source: Indian B-School Entrance Exam
Note: 9% sales tax was charged on the discounted marked price.
A. 19.25%
B. 22.50%
C. 25.25%
D. 28.50%
E. 34.25%
Source: Indian B-School Entrance Exam
It took me more than 2 mins to solve this and I want to know an approach or a way by which this can be solved quickly
22 Nov 2020, 12:20
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ProfChaos
For Y1 After giving a discount of 12.5%, the SP was 875/-
So MP * \(\frac{100 - 12.5}{100} = 875\). Solve for MP to get MP = \(\frac{875 * 100}{87.5} = 1000\)
Now, there is a 25% Mark Up, by which the CP became 1000/-
CP * \(\frac{100 + 25}{100} = 1000\). Solve for CP to get CP = \(\frac{1000 * 100}{125} = 800\)
Now for Y2
MP = 654, Let Discount = D%, Tax = 9% and SP = 654
Then \(MP * \frac{100 - D}{100} + \frac{Tax}{100} * MP * \frac{100 - D}{100} = SP\)
\(654 * \frac{100 - D}{100} + 0.09 * 654 * \frac{100 - D}{100} = 654\)
Cancelling 654 throughout, and 100 from the denominator, we get (100 - D) + 0.09 (100 - D) = 100
[100 - D] * 1.09 = 100
100 - D = 100/1.09 = 91.74
D = 8.26%
CP of Y2 = 900 + Discount of 654 = 900 + 8.26% of 654 = 900 + 53.28 = 953 (approx)
Therefore % increase from 800 to 953 = \(\frac{Larger \space Value - Smaller \space Value}{Smaller \space Value} * 100 = \frac{953 - 800}{800} * 100 = \frac{153}{8}= 19.3\)%
Option A
Arun Kumar
12 Jul 2023, 07:27
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