A dealer buys an old cooler listed at ₹650 and gets successive discounts of 20% and 10%. He spends ₹38 on its repairs and sells it at a profit of 20%. Find the selling priceof the cooler.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹607.2
Given:
Marked price of cooler = 650
Two successive discounts = 20% and 10%
Repairing cost = 38
Calculations:
Cost of cooler after two successive discounts of 20% and 10% = 20 + 10 - 200/100 = 28%
Cost price = 72% of 650 = 468
Total cost after repairing = 468 + 38 = 506
Selling price for a profit of 20% = 120% of 506
⇒ 607.2