Iron Selling Price Calculation
This problem involves calculating the final selling price of an iron after it undergoes two sequential sales, each involving a percentage change (gain or loss). We need to follow the price changes step by step.
Ramesh's Selling Price Calculation
The initial cost price (CP) of the iron was given as ₹758. Ramesh purchased it at this price and then sold it at a gain of 15%. The formula to calculate the selling price (SP) after a gain is:
$$SP = CP \times \left(1 + \frac{Gain\%}{100}\right)$$
Let's substitute the given values into the formula:
$$SP_{Ramesh} = ₹758 \times \left(1 + \frac{15}{100}\right)$$
$$SP_{Ramesh} = ₹758 \times (1 + 0.15)$$
$$SP_{Ramesh} = ₹758 \times 1.15$$
$$SP_{Ramesh} = ₹871.70$$
So, Ramesh sold the iron for ₹871.70.
Reena's Selling Price Calculation
Reena bought the iron from Ramesh. This means Reena's cost price (CP) is the same as Ramesh's selling price, which is ₹871.70. Reena then sold the iron at a loss of 8%. The formula to calculate the selling price (SP) after a loss is:
$$SP = CP \times \left(1 - \frac{Loss\%}{100}\right)$$
Now, we use Reena's cost price and the loss percentage in the formula:
$$SP_{Reena} = ₹871.70 \times \left(1 - \frac{8}{100}\right)$$
$$SP_{Reena} = ₹871.70 \times (1 - 0.08)$$
$$SP_{Reena} = ₹871.70 \times 0.92$$
$$SP_{Reena} = ₹802.964$$
Final Price Rounding
The question asks for the selling price correct to two decimal places. We need to round the calculated selling price of ₹802.964. Rounding this value gives:
$$SP_{Reena} \approx ₹802.96$$
Therefore, the selling price of the iron for Reena, rounded to two decimal places, is approximately ₹802.96.
Similar Questions
- Ansh bought a smartphone from his colleague Sameer for Rs.45,540 such that Sameer earned a profit of 10%. Sameer bought the phone from Anita, on which Anita earned a profit of 15%. Sujata sold that phone to Anita earning a profit of 20%. At what price (in Rs.) had Sujata bought the phone?
Important Questions from Successive Selling
- During a sale 35% of the goods are sold at 22% profit, 40% of the remaining goods are sold at 37% profit and the still remaining goods are sold at a loss of 38%. If there is an overall profit of x%, then what is the value of x?
- A dealer buys two articles X and Y for ₹1,000 each. He marks each of them at the same price. He sells X by giving two successive discounts of 15% and 30% and still earns ₹337 as profit. If he sells Y at a single discount of 49%, then what is the profit percentage on Y?
- Find the single equivalent discount (rounded off to two decimal places) for successive discounts of 18%, 6% and 25%.
A shopkeeper marks the price of three identical articles, first, 60% above the Cost Price; second, 45% above the Cost Price and the third, 40% above the cost price. If he gives discount of 25% on first article, 20% on the second article and 15% on the third one, what is his overall profit percentage?
A dealer bought a six-seater Dining Table after getting successive discounts of 15% and 12%. Thereafter, he spent 10% on transport, etc. and finally sold it for Rs. 24,169.75, thereby earning a profit of 25%. What was the marked price of the Dining Table?
