Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Profit and Loss

Question:

Rajiv sells a book to Mohan at a profit of 9% and Mohan sells it to Gopal at a profit of 13%. If Gopal pays Rs 12,317 for it. Find the cost price for Rajiv.

Options:

Rs 15,000

Rs 11,000

Rs 16,000

Rs 10,000

Correct Answer:

Rs 10,000

Explanation:

Let the cost price of book be 100 units.

Rajiv sells it to Mohan at 9% profit,

Thus selling price = 109 units 

Mohan again sells it to Gopal at 13% profit,

Selling price for this transaction = $\frac{113}{100}$ x 109 = $\frac{113 \times 109}{100}$ units = 12317/100 units 

According to the question, this is equal to Rs 12,317

Using unitary method,

     1 unit  = Rs 100

Thus, 100 units = Rs 10,000

Cost price for Rajiv = Rs 10,000