Multiple choice

Mr. Rajan is a shopkeeper, who sell a branded leather wallet at his store. The cost price of the wallet is Rs. A. He marks the price up by B% above its cost price. After giving a 20% discount on the marked price, he earns a profit of Rs. (B + 80). If he marks the same wallet (B + 20)% above the cost price and gives the same discount, he earns a profit of Rs. (B + 240). Which of the following statements is/are correct? 1. A - 200 = 20B 2. A 10 + 16B = 1,070 3. 60% of A is 6004. 0.8A ( 1 + B 100 ) < 1,400

  1. Only statements 1 and 2 are correct.

  2. Only statements 1 and 4 are correct.

  3. Only statements 2 and 3 are correct.

  4. Only statements 1, 3, and 4 are correct.

  5. All statements are correct.
Reveal answer Fill a bubble to check yourself
D Correct answer
AI explanation

Forming equations from the given conditions gives A * (1 + B/100) * 0.8 - A = B + 80 and A * (1 + (B+20)/100) * 0.8 - A = B + 240. Solving this system reveals that the cost price A is Rs. 1000 and the markup B is 40%. Substituting these values verifies that statements 1, 3, and 4 are mathematically correct.

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