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A wholesaler sells crockery set to a trader at a profit of 30% and the trader sells it to a customer at a profit of 25%. If the customer pays Rs. 4225, which of the following is correct? I. SP for the wholesaler is Rs. 3280 II. CP for the wholesaler is Rs. 2400

A wholesaler sells crockery set to a trader at a profit of 30% and the trader sells it to a customer at a profit of 25%. If the customer pays Rs. 4225, which of the following is correct? I. SP for the wholesaler is Rs. 3280 II. CP for the wholesaler is Rs. 2400 Correct Answer Neither I nor II

Given: 

Profit for wholesaler = 30%

Profit for trader = 25%

Cost price for customer = Rs. 4225                          

Formula Used:

Profit% = (Profit /CP) × 100

SP = {(100 + P%)/100} × CP

Where P → Profit, CP → cost price, and SP → selling price.

Calculation:

Let CP be the cost price for wholesaler

Profit for wholesaler = 30% of CP

⇒ SP for wholesaler(SP1) = (130/100) × CP     

Profit for trader = 25% of SP1

⇒ Selling price for trader = (125/100) × SP1

Selling price for trader = Cost price for customer

⇒ (125/100) × SP1 = 4225

⇒ (5/4) × SP1 = 4225

⇒ SP1= Rs. 3380

SP1 = (130/100) × CP

⇒ 3380 = (13/10) × CP

⇒ CP = Rs. 2600

∴ Neither I nor II is correct.

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