Given below are three quantities named A, B and C. Based on the given information, determine the relation among the three quantities. A shopkeeper bought two products X and Y from a company. He bought product X for Rs. 3060 and sold it to the customer earning a profit of 20%, while he sold the product Y to a customer for Rs. 4160, thereby earning a profit of 30%. Quantity A: If the company earned a profit of 20% on the product X, what is the manufacturing cost of product X? Quantity B: If the company earned a profit of Rs. 600 on the product Y, what is the manufacturing cost of product Y? Quantity C: What is the difference between the total price paid by the customers and the total manufacturing cost of the products X and Y?
Given below are three quantities named A, B and C. Based on the given information, determine the relation among the three quantities. A shopkeeper bought two products X and Y from a company. He bought product X for Rs. 3060 and sold it to the customer earning a profit of 20%, while he sold the product Y to a customer for Rs. 4160, thereby earning a profit of 30%. Quantity A: If the company earned a profit of 20% on the product X, what is the manufacturing cost of product X? Quantity B: If the company earned a profit of Rs. 600 on the product Y, what is the manufacturing cost of product Y? Quantity C: What is the difference between the total price paid by the customers and the total manufacturing cost of the products X and Y? Correct Answer Quantity A < Quantity B < Quantity C
Solving for Quantity A:
Price paid by shopkeeper for product X = Manufacturing cost of product X + Profit of company
∵ Profit of company = 20%
⇒ 3060 = 120% of Manufacturing cost of X
⇒ Manufacturing cost of X = 3060/1.2 = Rs. 2550
⇒ Quantity A = Rs. 2550
Solving for Quantity B:
Price paid by customer for product Y = Price paid by shopkeeper for product Y + Profit of shopkeeper
∵ Profit of shopkeeper = 30%
⇒ 4160 = 130% of Price paid by shopkeeper
⇒ Price paid by shopkeeper for product Y = 4160/1.3 = Rs. 3200
⇒ Manufacturing cost of product X = 3200 – 600 = Rs. 2600
⇒ Quantity B = Rs. 2600
Solving for Quantity C:
Total manufacturing cost of products X and Y = 2550 + 2600 = Rs. 5150
∵ Profit of shopkeeper on product X = 20%
⇒ Price paid by customer for product Y = 120% of 3060 = Rs. 3672
⇒ Total price paid by customers for X and Y = 3672 + 4160 = Rs. 7832
⇒ Quantity C = Difference = 7832 – 5150 = Rs. 2682
∴ Quantity A < Quantity B < Quantity C