Question : The marked price of the car is Rs. 6,00,000. Rahul buys that car at two successive discounts of 30% and 20%. If after using the car, he sells the car for Rs. 4,78,000, then what is the profit percentage?
Option 1: 39.87%
Option 2: 36.85%
Option 3: 33.33%
Option 4: 42.26%
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Correct Answer: 42.26%
Solution :
Single equivalent discount = $(x+y-\frac{xy}{100}$)% where $x$ and $y$ are two successive discounts.
So, two successive discounts of 30% and 20% are equivalent to (30 + 20 – $\frac{30×20}{100}$) = 44%
Purchased price = Marked price – 44% of Marked price
= 600000 – 0.44 × 600000
= Rs. 3,36,000
Profit = Selling price – Cost price
= 4,78,000 – 3,36,000
= Rs. 1,42,000
Now, Profit percentage = $\frac{\text{Profit}}{\text{Cost Price}}$ × 100 = $\frac{142000}{336000}$ × 100 = 42.26%
Hence, the correct answer is 42.26%.
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