P sells an article to Q at a loss of 5% and sells that article to R at a loss of 20%. If R pays Rs. 2812 for the article, then what was the cost price for P?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs. 3700.
| Understanding/Application |
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Let the Cost Price of P be Rs.100x Selling Price of P = Cost Price of Q = 95% of Rs.100x = Rs.95x Selling Price of Q = Cost Price of R = 80% of Rs.95x = (80 × 95x)/100 = Rs.76x Cost Price of R = Rs.2812 Rs.76R = Rs.2812 R = 37 |
| Cost Price of P = 100x = 100(37) = Rs. 3700 |