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An item was bought for Rs. 2000 and successively sold twice, earning a profit of 25% on each sale. If the same item was bought at 10% less price and successively sold twice earning a profit of 30% on each sale, by how much amount is the final price of the item reduced?

An item was bought for Rs. 2000 and successively sold twice, earning a profit of 25% on each sale. If the same item was bought at 10% less price and successively sold twice earning a profit of 30% on each sale, by how much amount is the final price of the item reduced? Correct Answer Rs. 83

Considering the first case,

Cost price of item = Rs. 2000

Profit earned is 25% on each sale

⇒ Final price of item after two sales = 125% of 125% of 2000 = 1.25 × 1.25 × 2000 = Rs. 3125

Considering second case,

Cost price of item = (100 - 10)% of 2000 = 90% of 2000 = Rs. 1800

Profit earned is 30% on each sale

⇒ Final price of item after two sales = 130% of 130% of 1800 = 1.3 × 1.3 × 1800 = 3042

∴ Final price of item is reduced by = 3125 - 3042 = Rs. 83

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