Sanjay sells a book to Harshit, making an 11% profit. Harshit then sells the book to Anil for a 12% profit. If Anil paid ₹12,432 for the book, what was the original price Sanjay paid for it?
Show answer & explanation
Correct answer: A
Explanation
Given:
Final Selling Price = 12,432
Sanjay's Profit = 11%, Harshit's Profit = 12%
According to the formula:
SP = CP × (1 + Profit%)
Let Sanjay's Cost Price = x
Harshit's SP = x × 1.11 × 1.12
1.2432x = 12,432
x = 12,432 / 1.2432 = 10,000