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A manufacturer sells an item marked at INR 500 to the wholesaler at a profit of 20% and the wholesaler sells it to the retailer at a 10% profit. The price at which retailer bought the item is?

A manufacturer sells an item marked at INR 500 to the wholesaler at a profit of 20% and the wholesaler sells it to the retailer at a 10% profit. The price at which retailer bought the item is? Correct Answer INR 660

Given:

The marked price of an item is INR 500.

Calculation:

The manufacturer sells item to the wholesaler at a profit of 20%

⇒ Manufacturer sells item to the wholesaler at 500 × 120 / 100 = INR 600

 The wholesaler sells item to the retailer at a profit of 10%

⇒ Wholesaler sells it to the retailer at 600 × 110/100 = INR 660

Thus, cost price of item for the retailer = INR 660

Short trick:

Cost price of item for the retailer = INR 500 × 1.2 × 1.1 = INR 660

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