IPMAT/Arithmetic•11mos
yashraj

Can anyone share the splution

Ranveer goes to Archies gallery to purchase a gift for his girlfriend Deepika for Valentine's Day. Ranveer has the privilege of buying the gifts at a 24% discount on the listed price. Deepika ditches Ranveer on Valentine's Day, so he decides to sell the purchased gift to someone else. Suppose he wants to make a profit of 25% after allowing a discount of 20%, by what percent should his marked price be greater than the original listed price?

(a) 17% (b) 17.75% ếc) 18.75% (d) 19%

635

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Comments (1)

B
basicallybhavesh
IIM Ranchi (IR 2)
MOD•11mos
Correct

We need to find by what percent Ranveer's marked price should be greater than the original listed price.

Original listed price at Archies gallery = L.

Step 1: Find Ranveer's cost price

Ranveer buys at a 24% discount on the listed price:

  • Cost Price (CP) = L - 24% of L = L(1 - 0.24) = 0.76L

Step 2: Determine Ranveer's desired selling price

Ranveer wants to make a 25% profit on his cost price:

  • Desired Selling Price (SP) = CP + 25% of CP = 0.76L(1 + 0.25) = 0.76L × 1.25 = 0.95L

Step 3: Find the required marked price

Ranveer offers a 20% discount on his marked price to achieve the selling price:

  • If Marked Price = M, then SP = M - 20% of M = 0.80M
  • We need: 0.80M = 0.95L
  • Therefore: M = 0.95L / 0.80 = 1.1875L

Step 4: Calculate the percentage increase

The marked price should be greater than the original listed price by:

  • Increase = M - L = 1.1875L - L = 0.1875L
  • Percentage increase = (0.1875L / L) × 100% = 18.75%

Answer: Ranveer's marked price should be 18.75% greater than the original listed price.

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