A man buys 35 kg of sugar and sets a marked price in order to make a 20% profit. He sells 5 kg at this price, and 15 kg at a 10% discount. Accidentally, 3 kg of sugar is wasted. He sells the remaining sugar by raising the marked price by p percent so as to make an overall profit of 15%. Then p is nearest to
Explanation:
Let the cost price of sugar be Rs. 100/kg and marked price will be = Rs. 120/kg
∴ Total cost for the man = 35 × 100 = Rs. 3500
He earns 15% profit on this, hence total selling price = 3500 × 1.15 = Rs. 4025
Total Selling price for 5 kg sugar = 5 × 120 = 600
Total Selling price for 15 kg sugar = 15 × 120 × 0.9 = 1620
Total Selling price for 3 kg sugar = 3 × 0 = 0
Total Selling price for remaining 12 kg sugar = 12 × 120(1 + p%)
∴ 4025 = 600 + 1620 + 0 + 1440(1 + p%)
⇒ 1805 = 1440(1 + p%)
⇒ 1 + p% ≈ 1.25
⇒ p = 25%
Hence, option (a).
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