Profit and Loss Practice Test 3

Question : 12 of 40

Marks: +1, -0

A merchant purchases a wristwatch for Rs 450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20%. Then the list price of the watch is:

Rs 650
Rs 700
Rs 550
Rs 600

Validate

Solution:

Let the marked price = x
SP of watch = x - 10% of x after discount

=x-{10x}/100=9/10x

Cost price of the watch = Rs 450
According to the statement,

9/10x-450=450×20/100

9x- 4,500= 900

9x= 5,400

x=5400/9=600

Marked price = Rs 600

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