Ankur sells a box to Sunita earning a profit of 20%. Sunita sold it to Mohit with a 9% profit. Mohit sold it to Anjali for ₹24,525 thereby gaining 25%. At what price (in ₹) did Ankur buy the box?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 15000.
Let Ankur's cost price be x.
Mohit sold to Anjali for ₹24,525 with 25% profit
So, Mohit's cost price = 24525 ÷ 1.25 = 19620
Sunita sold to Mohit for ₹19,620 with 9% profit
So, Sunita's cost price = 19620 ÷ 1.09 = 18000
Ankur sold to Sunita for ₹18,000 with 20% profit
So, Ankur's cost price = 18000 ÷ 1.20 = 15000