Ravish buys a microwave at some price, finds it defective and sells it at a loss of 10% to Rakesh. Rakesh consults an electrician, spends Rs. 2000 on repairing and sells it further at a profit of 25% to Ravi. Ravi and Ravish are close friends. So, Ravi once again sells it to Ravish without any loss or profit. Had Ravish himself taken the microwave to electrician, how much money would he have saved if ravish had bought it again at Rs. 30625.
Ravish buys a microwave at some price, finds it defective and sells it at a loss of 10% to Rakesh. Rakesh consults an electrician, spends Rs. 2000 on repairing and sells it further at a profit of 25% to Ravi. Ravi and Ravish are close friends. So, Ravi once again sells it to Ravish without any loss or profit. Had Ravish himself taken the microwave to electrician, how much money would he have saved if ravish had bought it again at Rs. 30625.
1). Rs. 5000
2). Rs. 6000
3). Rs. 3625
4). Rs. 6328
1 answers
Using the formula, $(CP = \frac{{SP}}{{1 + profit\% }})$
$(CP = \frac{{SP}}{{1\; - \;Loss\% }})$
Where, CP = cost price
SP = Selling Price
For Rakesh, SP = Rs. 30625, Profit = 25%
$(\therefore {\rm{CP}} = {\rm{}}\frac{{30625}}{{1 + 0.25}} = \;\frac{{30625}}{{1.25}} = Rs. 24500)$
Amount spent on electrician = Rs. 2000
∴ Rakesh bought it from Ravish for Rs. 22500.
For Ravish,
SP = Rs. 22500, Loss = 10%
∴ CP = $(\frac{{22500}}{{1\; - \;0.1}}\; = \;\frac{{22500}}{{0.9}}\; = \;Rs.25000)$
Had Ravish spent Rs. 2000 by consulting the electrician, then CP = Rs. 27000
But, after purchasing from Ravi, CP = Rs. 30625
∴ Amount that Ravish would have to spend less = Rs. (30625 − 27000) = Rs. 3625