Question:
Aman bought '3x' shares for Rs. 420 per share, '4x' shares for Rs. 450 per share and '3x' shares for Rs. 430 per share. He sold 40% of the shares at Rs. 480 per share and the rest at Rs. 'y' per share. If he made a total profit of 20% on the whole transaction, find the value of 'y'.
Aman bought '3x' shares for Rs. 420 per share, '4x' shares for Rs. 450 per share and '3x' shares for Rs. 430 per share. He sold 40% of the shares at Rs. 480 per share and the rest at Rs. 'y' per share. If he made a total profit of 20% on the whole transaction, find the value of 'y'.
Updated On: Sep 13, 2024
- 500
- 480
- 550
- 590
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The Correct Option is C
Solution and Explanation
The correct option is (C): 550
Total shares bought = 3x + 3x + 4x = 10x
40% of 10x = 4x and the remaining = 6x
Shares bought for = 3x * 420 + 4x * 450 + 3x * 430
Shares sold for = 4x * 480 + 6x * y
According to question,
4x * 480 + 6x * y = 120/100 * (3x * 420 + 4x * 450 + 3x * 430)
=> y = 550
Total shares bought = 3x + 3x + 4x = 10x
40% of 10x = 4x and the remaining = 6x
Shares bought for = 3x * 420 + 4x * 450 + 3x * 430
Shares sold for = 4x * 480 + 6x * y
According to question,
4x * 480 + 6x * y = 120/100 * (3x * 420 + 4x * 450 + 3x * 430)
=> y = 550
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