Armed Forces Police Math Exams Quizzes MCQs Quizzes Profit and Loss Math

Question:
Arshad sold a watch to Rahim at a gain of 5% and Arshad sold it to Rashid at a gain of 4%. If Rashid paid Rs. 1092 for it, the price paid by Arshad is:

Option A):
Rs. 995.90
Option B):
Rs. 996
Option C):
Rs. 993.72
Option D):
Rs. 1000

Correct Answer is Option D):
Rs. 1000

Explanation:
Solution:
Let Arshad's C.P. = Rs. 100
Then Rahim's C.P. = Rs. 105
Rashid C.P. 's = Rs. (105 + 4.20) = 109.20
Hence price paid by Arshad
= 100/109.20  x  1092   =  Rs. 1000