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A jeweller made a piece of uniquely designed diamond necklace and the selling price was fixed at Rs. 10,00,000. In making this piece, on the raw material, the jeweller had invested Rs. 3,00,000 and had paid a labour charge of Rs. 2,00,000. If 20% of the raw material cost was of gold, what is the actual amount the jeweller had spent in procuring the gold?

A jeweller made a piece of uniquely designed diamond necklace and the selling price was fixed at Rs. 10,00,000. In making this piece, on the raw material, the jeweller had invested Rs. 3,00,000 and had paid a labour charge of Rs. 2,00,000. If 20% of the raw material cost was of gold, what is the actual amount the jeweller had spent in procuring the gold? Correct Answer Rs. 60,000

Total cost of Raw material = Rs. 3,00,000

∵ The cost of procuring the gold is dependent upon only the raw material cost and no other cost.

∴ Amount spent by the jeweller in procuring the gold = Rs. (3,00,000 × 20/100) = Rs. 60,000

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