Amit and Bilal buy goods for ₹1,500 and ₹2,000, respectively. Amit marks his goods up by y%, while Bilal marks his goods up by 2y% and offers a discount of y%. If both make the same profit, then find the value of y.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 12.5.
Profit of Amit = y% of 1500 = 15y
Net profit of Bilal = 2000 × [2y - y - (2y2/100)] × 1/100 = 20 × [y - y2/50] = 20y[(50 - y)/50]
According to the question,
15y = 20y[(50 - y)/50]
⇒ 15 = 2/5 (50 - y)
⇒ 37.5 = 50 - y
y = 12.5