Iift 2021 - 23rd Dec Question 2
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IIFT 2021 (23rd Dec)
Let the cost of 1000gm of dal be rupees 1000
Now the shopkeeper is buying 1100 gm of dal for rupees 1000
While selling 900 gm of dal the shopkeeping is charging the price of 1000 gm
Therefore while selling 1100 gm of dal the shopkeeper will charge the price of (1000/900)*1100 gm = 11000/9 gm
He has marked up the price by 20% and then given a discount of 10%
So price charged by shopkeeper = (11000/9)*1.2*0.9 = 1320
So the shopkeeper is spending rupees 1000 to buy the dal and is selling the same quantity of dal at rupees 1320. Therefore, profit
percentage is (320/1000)*100 = 32%