Bina incurs 19% loss when she sells a product at Rs. 4860 to Shyam, who in turn sells this product to Hari. If Bina would have sold this product to Shyam at the purchase price of Hari, she would have obtained 17% profit. Then, the profit, in rupees, made by Shyam is
Correct Answer: 2160
Solution and Explanation
Let's denote the purchase price of the product for Hari as P.
When Bina sells the product to Shyam at Rs. 4860, she incurs a 19 percent loss. So: P (1 - 0.19) = 4860 P = 6000
If Bina had sold the product to Shyam at the purchase price of Hari (Rs. 6000), she would have made a 17 percent profit. So, Shyam bought the product at: 6000 (1 + 0.17) = 7020
Shyam sold the product to Hari for Rs. 4860. So, Shyam's loss is: 7020 - 4860 = 2160
Therefore, Shyam's loss is Rs. 2160.
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A furniture trader deals in tables and chairs. He has Rs. 75,000 to invest and a space to store at most 60 items. A table costs him Rs. 1,500 and a chair costs him Rs. 1,000. The trader earns a profit of Rs. 400 and Rs. 250 on a table and chair, respectively. Assuming that he can sell all the items that he can buy, which of the following is/are true for the above problem:
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