Question

In an exhibition, Almond bought a painting for Rs. 20000. He later sold it to Olive for Rs. 23000. Olive sold it to Sarah for double the profit percentage that Almond earned. At what price should Sarah sell this painting to earn 8% profit ?
A) Rs. 34,410
B) Rs. 31,184
C) Rs. 29,999
D) Rs. 32,292

Answer 1

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CP of Almond = Rs 20,000
SP of Almond = Rs 23,000
Profit of Almond = SP - CP
= 23000 - 20000
= 3,000
Profit % = Profit× 100/CP
$= \frac{3000}{20000} \times 100 \\ = 15\%$
Now CP of Olive = Rs 23,000
Profit%= 2×15% = 30%
SP of Olive = CP(100+Profit%)/100
$= 23000 \times \frac{(100 + 30)}{100} \\ = 230 \times 130 \\ = 29900$
Now CP of Sarah = Rs 29,900
Profit% = 8%
SP of Sarah = CP(100+Profit%)/100
$= 29900 \times \frac{(100 + 8)}{100} \\ = 299 \times 108 \\ = 32292$
Hence Sarah sell this painting = Rs 32,292

So Option D is your answer


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Answer 2

Q:

In an exhibition, Almond bought a painting for Rs. 20000. He later sold it to Olive for Rs. 23000. Olive sold it to Sarah for double the profit percentage that Almond earned. At what price should Sarah sell this painting to earn 8% profit ?

A) Rs. 34,410
B) Rs. 31,184
C) Rs. 29,999
D) Rs. 32,292

Answer:   D) Rs. 32,292 

Explanation:

Almond Selling price = CP(1 + P%/100)
=> CP = 20000, SP = 23000
=> 23000 = 20000 (1 + P/100)
=> P% = 100(23000/20000 - 1) = 15

Then, Olive's P% = 30%
SP for Olive = CP for Sarah = 23000(1 + 30/100) = 29900

Now Sarah wants to earn profit of 8%
=> Sp for Sarah = 29900(1 + 8/100)
= Rs. 32,292.