Question : A Microwave oven is sold in Hyderabad for Rs. M. A retailer, Elahi from Hyderabad went to Madras and bought it for 25% less (when compared to the price in Hyderabad). He spends Rs.1,000 on transport to bring it from Madras to Hyderabad. He sold it in Hyderabad for Rs. M making a profit of 10%. Find the value of M (in Rs.).
Option 1: 6,305.80
Option 2: 6,258.80
Option 3: 6,285.70
Option 4: 6,527.90
Correct Answer: 6,285.70
Solution :
Price at Hyderabad = Rs. M
Price at Madras is 25% less than that in Hyderabad
So, price at madras = M$\times 75\%=\frac{3}{4}$M
The cost price including transportation fee becomes $(\frac{3M}{4}+1000)$
For 10% profit on this cost price,
($\frac{3M}{4}$ + 1000)$\times \frac{110}{100}$ = M
⇒ 82.5M + 110000 = 100M
⇒ M = Rs. 6285.7
Hence, the correct answer is 6,285.70.
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