A retailer marked a product 40% above its cost price. She then offered two successive discounts of 12% and 15% to a buyer. If she made a profit of ₹50, at what price did she sell the product?

Question

Accepted Answer

1. Let cost be $C$. Marked price = $1.4C$.

2. After two discounts final price = $1.4C	imes 0.88	imes 0.85=1.0472C$.

3. Profit ₹50 gives $1.0472C-C=0.0472C=50$. So $C=50/0.0472=62500/59\approx1059.32$.

4. Selling price = $C+50\approx1059.32+50\approx1109.32\approx₹1109$. Choose (b).

FINAL_ANSWER: b

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