UPSC Prelims 2002·GS1·economy·basic concepts

A trader fixed the price of an article in such a way that by giving a rebate of 10% on the price fixed he made a profit of 15%. If the cost of the article is Rs 72, the price fixed on it is

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Last updated 23 May 2026, 3:31 pm IST
  1. ARs 82.80
  2. BRs 90.00
  3. CRs 92.00Correct
  4. DRs 97.80

Explanation

To solve this problem, we use the relationship between Cost Price, Marked Price, Profit, and Discount. 1. First, calculate the Selling Price. Since the Cost Price is 72 and the profit is 15 percent, the Selling Price is 115 percent of 72. This equals 82.80. 2. The Selling Price is also the result of giving a 10 percent discount on the Marked Price. This means 90 percent of the Marked Price equals 82.80. 3. To find the Marked Price, divide 82.80 by 0.90. This equals 92. Therefore, the price fixed on the article is Rs 92.00. Correct option is C.
economy: A trader fixed the price of an article in such a way that by giving a rebate of 10% on the price fixed he made a profit

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