Ram sells a suitcase to Mohan at a 20% profit., Mohan sells it to Shyam at a 40% profit. If Shyam pays ₹1,430 for it, then the price at which Ram bought it is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs. 851.19
Given that
Ram sells suitcase to Mohan at 20% and further, Mohan sells it to Shyam at 40%
Shyam pays Rs. 1430 for it
Let Ram buy it in X units
According to the question,
⇒ X × (120/100) × (140/100) = 1430
⇒ X × 168 = 143000
⇒ X = 143000/168
⇒ X = Rs. 851.19