A man wanted to sell his bat at a discount of 8%. His brother who was a cricketer wanted to buy the bat, so the man sells it at a discount of 10%. In this deal, the man reduce Rs.70 in profit. What was the market value of the bat?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e Rs.3,500
Let the market value of bat be 100x.
⇒ When he gives an 8% discount the price = 92x
⇒ When he gives a 10% discount the price = 90x
Difference ⇒ 92x - 90x = 70
⇒ 2x = 70
⇒ x = 35
The market price (100x) = 100 × 35
⇒ Rs.3500