Multiple choice

A bookstore owner buys a set of rare books for Rs. 4,000. He marks up the price of the books by 30% for retail sale. However, during a promotional sale, he offers a discount of 15% on the marked price. If he manages to sell all the books, what is the final amount he receives for the set of books after the discount?

  1. Rs. 3,420

  2. Rs. 3,820

  3. Rs. 4,420

  4. Rs. 4,820
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The marked price is 4000 * 1.30 = 5200. Applying a 15% discount means the selling price is 5200 * 0.85 = 4420.

AI explanation

Using the marked price formula, Marked Price = Cost Price + (Markup Percentage x Cost Price), the marked price is 4000 + (0.30 x 4000) = 5200. Applying the successive discount formula, Selling Price = Marked Price x (1 - Discount Percentage), the final selling price becomes 5200 x (1 - 0.15) = 5200 x 0.85. Multiplying this out gives the final amount received as Rs. 4,420.

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