Problem: A dishonest merchant makes a 10% profit at the time of buying and a 5% loss at the time of selling the goods he/she trades. By doing so if the said merchant made a profit of Tk.900 on a particular item, what was the real cost of the item sold?
View all: ASIA BANK OFFICER(MT & PO) | WRITTEN QUESTION (MATH) SOLVE | 2015
Correct Answer: ans: The real cost of the item sold is 20,000 TK
Explanation:
Let, the cost price be = 100 Tk.
At 10% profit the market price of the product will be = 100 + 10 = 110 Tk.
At 5% loss, the selling price will be = 110 – 5% of 110
= 110 – $\frac{110\times 5}{100}$
= 110 -$\frac{11}{2}$
= 110 -5.5
= 104.5
Profit = (104.5 – 100) Tk. = 4.5 Tk.
Dishonest merchant makes 4.5 Tk. profit while cost price = 100 Tk.
Dishonest merchant makes 1 Tk. profit while cost price = $\frac{100}{4.5}$ Tk.
Dishonest merchant makes 900 Tk. profit while cost price =$\frac{100\times 900}{4.5}$= 20,000 Tk.
