All Exams Test series for 1 year @ ₹349 only
Question

Salesperson 'A' sells an object at a price Rs. 5 less than the marked price, receiving a commission of 5% on the selling price. The same object is sold by person 'B' at a price Rs.15 less than the marked price, receiving a commission of 15% on the selling price. If both A and B receive the same amount in commission, then what is the marked price of the object?

The correct answer is

20

Marked Price Problem Analysis

This question involves calculating the original marked price of an object based on information about how two different salespeople, A and B, sell it and receive commissions.

Both salespeople sell the object at a price less than the marked price and earn a commission based on their respective selling prices. The key piece of information is that they both receive the same amount of commission.

Defining Variables

Let's denote the marked price of the object as \( MP \).

  • Salesperson A sells the object at a price Rs. 5 less than the marked price.
  • Salesperson B sells the object at a price Rs. 15 less than the marked price.

Based on this, we can write the selling price for each salesperson:

  • Selling Price for A (\( SP_A \)) = \( MP - 5 \)
  • Selling Price for B (\( SP_B \)) = \( MP - 15 \)

Calculating Commission

The commission for each salesperson is a percentage of their selling price:

  • Commission for A (\( C_A \)) = 5% of \( SP_A \)
  • Commission for B (\( C_B \)) = 15% of \( SP_B \)

We can write these commissions using the selling price expressions:

  • \( C_A = 0.05 \times (MP - 5) \)
  • \( C_B = 0.15 \times (MP - 15) \)

Equating Commissions

The problem states that both A and B receive the same amount in commission. Therefore, we can set their commission amounts equal to each other:

\( C_A = C_B \)

\( 0.05 \times (MP - 5) = 0.15 \times (MP - 15) \)

Solving for Marked Price

Now we need to solve this equation for \( MP \).

First, distribute the percentages on both sides:

\( 0.05 \times MP - 0.05 \times 5 = 0.15 \times MP - 0.15 \times 15 \)

\( 0.05 MP - 0.25 = 0.15 MP - 2.25 \)

Next, gather the \( MP \) terms on one side and the constant terms on the other side. Subtract \( 0.05 MP \) from both sides and add \( 2.25 \) to both sides:

\( 2.25 - 0.25 = 0.15 MP - 0.05 MP \)

\( 2.00 = 0.10 MP \)

Finally, divide by \( 0.10 \) to find the value of \( MP \):

\( MP = \frac{2.00}{0.10} \)

\( MP = 20 \)

The marked price of the object is Rs. 20.

Verification

Let's check if the commissions are indeed equal when \( MP = 20 \).

  • For A: \( SP_A = 20 - 5 = 15 \). \( C_A = 5\% \text{ of } 15 = 0.05 \times 15 = 0.75 \).
  • For B: \( SP_B = 20 - 15 = 5 \). \( C_B = 15\% \text{ of } 5 = 0.15 \times 5 = 0.75 \).

Since both \( C_A \) and \( C_B \) are equal to 0.75, our calculated marked price of Rs. 20 is correct.

Was this answer helpful?

Important Questions from Discount and MP

  1. If a trader marks the price of an article 50 percent more than the cost price and allows a discount of 30 percent, then what is his profit percentage?

  2. What will be the selling price of an article if two successive discounts of 15% and 12% are offered on its marked price of Rs. 25,500?

  3. What is the total percentage discount applied when 2 successive discounts of 20% and 10% are applicable.

  4. Printed price of a mobile is Rs. 6,400. It is sold in Rs. 2,560 with two consecutive discount. If first discount is 20%, then what is the second discount?

  5. Lekhana saves Rs. 15 on the purchase of a book when a discount of 20% is given. How much did she pay for the book?

Need Expert Advice?

Start Your Preparation with Prepp Mobile App

Download the app from Google Play & App Store
Download the app from Google Play & App Store
Prepp Mobile App