Multiple choice

In a farmers' market, both Ramesh and Sita bought vegetables worth Rs. 1,500 each. Ramesh marked the price up by 5p% and offered a discount of 4p%, while Sita marked the price up by 4p% and offered a discount of 3p%. If Sita made a profit of Rs. 480 more than that made by Ramesh, what is the value of p, where p > 0?

  1. 10

  2. 15

  3. 20

  4. 30

  5. a
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Ramesh: CP = 1500, MP = 1500(1 + p/100), SP = 1500(1 + p/100)(1 - 0.8p/100). Profit = SP - 1500. Sita: CP = 1500, MP = 1500(1 + 0.8p/100), SP = 1500(1 + 0.8p/100)(1 - 0.6p/100). Solving for p with the difference of 480 leads to p=20.

AI explanation

Using the formula for net profit percentage when markup is a% and discount is b%: Net Profit% = a - b - (ab/100). Ramesh's profit percentage is 5p - 4p - (20p^2/100) = p - 0.2p^2. Sita's profit percentage is 4p - 3p - (12p^2/100) = p - 0.12p^2. The difference in profit percentages is 0.08p^2, so 1500 * (0.08p^2/100) = 480, which gives p^2 = 400 and p = 20.

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