An iron costing ₹758 was sold by Ramesh at a gain of 15%, and it was again sold by Reena, who bought it from Ramesh, at a loss of 8%. Find the selling price of the iron for Reena (correct to two places of decimals).
- A₹810.96
- B₹808.69
- C₹820.69
- D₹801.96
Solution & Step-by-step Explanation
Initial cost price of the iron = ₹758
Ramesh sells it at a gain of 15%. The price at which Reena buys it (Ramesh's selling price) is:
Price for Reena=758×(1+
100
15
)=758×1.15=871.70
Reena then sells it at a loss of 8%. The selling price for Reena is:
Selling Price=871.70×(1−
100
8
)=871.70×0.92=801.964
Rounding to two decimal places, the selling price for Reena is ₹801.96.
Ramesh sells it at a gain of 15%. The price at which Reena buys it (Ramesh's selling price) is:
Price for Reena=758×(1+
100
15
)=758×1.15=871.70
Reena then sells it at a loss of 8%. The selling price for Reena is:
Selling Price=871.70×(1−
100
8
)=871.70×0.92=801.964
Rounding to two decimal places, the selling price for Reena is ₹801.96.