Ramesh purchased a piano, marked at ₹18,000 at a successive discounts of 12% and 15%, respectively. Ramesh gave ₹536 as transportation charge and sold it at ₹21,000. What is his gain percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 50%.
Marked Price = ₹18,000
First discount = 12%
→ After 12% discount = 18000 × (1 − 12/100) = 18000 × 0.88 = ₹15,840
Second discount = 15% = 15840 × (1 − 15/100) = 15840 × 0.85 = ₹13,464
Transportation = ₹536
Total Cost Price = 13,464 + 536 = ₹14,000
Selling Price = ₹21,000
Profit = 21000 − 14000 = ₹7,000
Gain Percentage = (Profit / Cost Price) × 100 = (7000 / 14000) × 100 = 50%