Question : Products pass successively through the hands of three traders and each of them sells his goods at a profit of 30% of his cost price. If the last trader sold the products for Rs. 300, then how much did the first trader pay for them?
Option 1: Rs. 330.55 (approx.)
Option 2: Rs. 136.55 (approx.)
Option 3: Rs. 240.55 (approx.)
Option 4: Rs. 137.55 (approx.)
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Correct Answer: Rs. 136.55 (approx.)
Solution :
Let the cost price of the commodity be A
Each seller further sells at a profit of 30% on her cost price
⇒ Each seller's selling price = (100 + 30)% of cost price
⇒ $300 = \frac{130}{100} × \frac{130}{100} × \frac{130}{100} × A$
⇒ $A = \frac{300\times10\times10\times 10}{13\times13\times 13}$
⇒ $A=\frac{300000}{2197}$
⇒ $A=\text{Rs. }136.55$(approx.)
Hence, the correct answer is 136.55(approx.).
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