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A manufacturer sells an item marked at INR 200 to the wholesaler at a profit of 10% and the wholesaler sells it to the retailer at profit of 20%. The price at which retailer bought the item is? 

A manufacturer sells an item marked at INR 200 to the wholesaler at a profit of 10% and the wholesaler sells it to the retailer at profit of 20%. The price at which retailer bought the item is?  Correct Answer INR 264

Given:

The marked price of an item is INR 200.

Calculation:

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

Manufacturer selling price = (110/100) × 200 = INR 220

The Wholesaler sells item to the retailer at a profit of 20%

Wholesaler selling price = (120/100) × 220 = INR 264

Thus, cost price of item for the retailer = INR 264

Smart trick:

Cost price of item for the retailer = INR 200 × 1.1 × 1.2 = INR 264

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