Question

Ravi sold an article to shyam at 20% profit. Shyam marked up the article by 20% and sold it at a discount of y% and got rs. 6120. If y% of the amount ati which ravi purchased the article is 750, then find the profit of ravi.

Answer 1

Profit of Ravi is Rs. 1000

Step-by-step explanation:

Step 1.

Let cost price for Ravi is Rs. x

Then selling price at 20% profit be

= Rs. x (1 + 20/100)

= Rs. 1.2x

Step 2.

Then, cost price for Shyam = Rs. 1.2x,

marked up price at 20% be

= Rs. 1.2x (1 + 20/100)

= Rs. 1.44x

and selling price at y% discount be

= Rs. 1.44x (1 - y/100)

= Rs. (1.44x - 0.0144xy)

Given,

1.44x - 0.0144xy = 6120 ..... (1)

Step 3.

Given, y% of the amount at which Ravi purchased the article = Rs. 750

i.e., x * y/100 = 750

or, xy = 75000 ..... (2)

Step 4.

Using (2), from (1), we get

1.44x - (0.0144 * 75000) = 6120

or, 1.44x - 1080 = 6120

or, 1.44x = 7200

or, x = 5000

Then the cost price of the article for Ravi was Rs. 5000 and selling price was Rs. (1.2 * 5000) = Rs. 6000

Therefore profit of Ravi is

= Rs. (6000 - 5000)

= Rs. 1000