Question

A retailer marked a product 40% above its cost price. She then offered two successive discounts of 12% and 15% to a buyer. If she made a profit of $50, at what price did she sell the product?

• A. ₹850
• B. ₹1109
• C. ₹950
• D. ₹1020

Answer 1

Answer:

B. ₹1109

Let the cost price (CP) be (x).

1. The retailer marked the product 40% above cost:
   $\text{Marked Price} = 1.4x$
   

2. She gave successive discounts of 12% and 15%:
   $\text{Selling Price (SP)} = 1.4x \times 0.88 \times 0.85$
   $= 1.0472x$
   

3. Profit is $50:<br>$\text{SP} - \text{CP} = 50$<br>$1.0472x - x = 50$<br>$0.0472x = 50$<br>$x = \frac{50}{0.0472} \approx 1059$<br></p></li><li><p data-pxy="true" style="color: rgb(0,0,0); margin-top: 2px; margin-bottom: 2px;">Selling price:<br>$\text{SP} = 1059.32 + 50 \approx 1109$