Question

A shopkeeper buys an article at 70% of its printed prices. He spends Rs. 40 on transportation of the articles. After charging Sales Tax at the rate of 10% on the printed prices, he sells the article for Rs. 7,040. Find his profit as per cent to the nearset integer.

• A. 40%
• B. 42%
• C. 44%
• D. 46%

Answer 1

Answer: (B)

42%

Let the printed price be Rs.x

$\therefore x+10\%ofx=7040$

$\Rightarrow x+\frac{10x}{100}=7040$

$\Rightarrow \frac{110x}{100}=7040$

$\Rightarrow x=\frac{70400}{11}=Rs.6400$

Shopkeeper buys the article at 70% of printed price .

Hence shopkeeper's cost price of the article$=70\%of6400$

$\Rightarrow \frac{70}{100}\times 6400=Rs.4480$

S.P of the article =Printed price=Rs.6400

Profit$=6400-4480=Rs.1920$

Profit %$=\frac{1920}{4480}\times 100=42.85\sim 42$%