Multiple choice

Kapil owns a book shop. The marked price of a book is Rs. 1600. A shopkeeper buys it after two successive discounts of 20% and 30%. He spends Rs. 26 on binding and crafting. Find out his approximate profit percentage if he sold the book for Rs. 1750.

  1. 90%

  2. 80%

  3. 70%

  4. 60%

  5. None of these
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A Correct answer
Explanation

Marked price = 1600. After 20% discount, price = 1280. After 30% discount, price = 1280 * 0.7 = 896. Total cost = 896 + 26 = 922. Selling price = 1750. Profit = 1750 - 922 = 828. Profit percentage = (828 / 922) * 100 approx 89.8%, which rounds to 90%.

AI explanation

The initial marked price of Rs. 1600 is first reduced by 20%, resulting in an intermediate price of Rs. 1280. Applying the second successive discount of 30% to Rs. 1280 gives a purchase price of Rs. 896, and adding the Rs. 26 crafting expense brings the total cost price to Rs. 922. Selling the book for Rs. 1750 generates a profit of 1750 minus 922, which equals Rs. 828. Using the profit percentage formula of (profit divided by total cost) multiplied by 100, the calculation is (828 divided by 922) multiplied by 100, resulting in an approximate profit of 90%.

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