A wholesaler bought an article for ₹1200and sold it at a discount of 15%on the marked price to a retailer. The retailer sold that article to a customer at a discount of 10%on the price at which he bought. If the retailer sells the article to the customer at₹1224, find the profit made by the wholesale
Question
A wholesaler bought an article for ₹1200and sold it at a discount of 15%on the marked price to a retailer. The retailer sold that article to a customer at a discount of 10%on the price at which he bought. If the retailer sells the article to the customer at₹1224, find the profit made by the wholesale
Solution
Step 1: Find the price at which the retailer bought the article.
The retailer sold the article to the customer at a discount of 10%. This means the price at which the retailer bought the article is 10% more than ₹1224.
So, the price at which the retailer bought the article = ₹1224 + 10% of ₹1224 = ₹1224 + ₹122.4 = ₹1346.4
Step 2: Find the marked price set by the wholesaler.
The wholesaler sold the article to the retailer at a discount of 15%. This means the marked price set by the wholesaler is 15% more than the price at which the retailer bought the article.
So, the marked price set by the wholesaler = ₹1346.4 + 15% of ₹1346.4 = ₹1346.4 + ₹201.96 = ₹1548.36
Step 3: Calculate the profit made by the wholesaler.
The profit made by the wholesaler = The marked price set by the wholesaler - The cost price of the wholesaler = ₹1548.36 - ₹1200 = ₹348.36
So, the profit made by the wholesaler is ₹348.36.
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