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Home Aptitude Profit and Loss See What Others Are Saying!
  • 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 ?


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

  • Correct Answer
  • 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.

  • Tags: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO

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    • Discuss
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