Shaan has a total of Rs.5,500 with him. He buys product ‘Z’ at Rs.5,000 from this sum and then sells it to another person, thus making a profit of 15% on it. With all the money he has now, he buys product ‘X’ and then sells it to another persons making a profit of 25% on it. What is the total money shaan has now?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e Rs.7,812.50.
Initial money = Rs. 5500
Buys product Z for Rs. 5000.
After buying Z
Money left = 5500 - 5000 = Rs. 500
Sells Z at 15% profit:
Selling price of Z = 5000 × 1.15 = Rs. 5750
Now total money:
500 (left) + 5750 = Rs. 6250
Buys product X with all Rs. 6250
Sells X at 25% profit:
Selling price = 6250 × 1.25 = Rs. 7812.50