Answer
363k+ views
Hint: In this problem we have to find the cost price of the watch that Mohan purchased it. We will use the formula to find cost price when profit and selling price is given. When CP and loss or profit percent is given then we use this formula, \[SP = CP \times \dfrac{{(100 \pm gain/loss\% )}}{{100}}\].
This problem is based on the concept of Profit and Loss on selling or buying an item.
Cost price (C.P.) is the actual price at which an item is purchased. When the item is sold at a higher price then there is profit and when it is sold at a lower price, there is loss. The price at which it is sold is called the selling price ( S. P.).
Complete step by step solution:
The given problem says that Mohan sold a watch to Karim at a gain of \[10\% \] and Karim sold it to Rahim at a gain of \[4\% \]. If Rahim pays him Rs. \[14300\] for it.
Let the cost price of the watch which Mohan purchased be \[x\].
Profit on watch when Mohan sold to Karim \[ = \]\[10\% \]
Selling price ( SP): when CP and profit percent is given by formula
\[SP = CP \times \dfrac{{(100 + gain\% )}}{{100}}\]
Hence,
\[SP = x \times \dfrac{{(100 + 10)}}{{100}} = \dfrac{{110x}}{{100}}\]
Thus, Karim buys at Rs. \[\dfrac{{110x}}{{100}}\]
Now Karim is sold to Rahim at \[4\] percent profit.
Hence
\[SP = \dfrac{{110x}}{{100}} \times \dfrac{{(100 + 4)}}{{100}} = \dfrac{{104 \times 11x}}{{1000}}\]
But Rahim pays Rs. \[14300\]
Therefore, \[\dfrac{{104 \times 11x}}{{1000}} = 14300\]
Cross multiply the above numerator and denominator to get the value ‘x’, then
On solving, we get
\[x = \dfrac{{14300 \times 1000}}{{104 \times 11}}\]
Hence \[x = 12500\]
Since, the cost price of the watch which Mohan purchased be \[x\]
Therefore, Mohan pays Rs. \[12500\] for the watch.
Hence, Mohan sold a watch to Karim at a gain of \[10\% \] and Karim sold it to Rahim at a gain of \[4\% \]. If Rahim pays him Rs. \[14300\] for it. Mohan purchased it for Rs. \[12500\]
So, the correct answer is “ Rs. \[12500\]”.
Note: Cost Price is the actual price at which goods or services are purchased.
Selling price is the actual price at which same goods or services are sold.
Profit \[ = \] \[SP - CP\]
Loss \[ = \] \[CP - SP\]
When SP and loss or profit percent is given then \[CP = SP \times \dfrac{{(100 \pm gain/loss\% )}}{{100}}\].
This problem is based on the concept of Profit and Loss on selling or buying an item.
Cost price (C.P.) is the actual price at which an item is purchased. When the item is sold at a higher price then there is profit and when it is sold at a lower price, there is loss. The price at which it is sold is called the selling price ( S. P.).
Complete step by step solution:
The given problem says that Mohan sold a watch to Karim at a gain of \[10\% \] and Karim sold it to Rahim at a gain of \[4\% \]. If Rahim pays him Rs. \[14300\] for it.
Let the cost price of the watch which Mohan purchased be \[x\].
Profit on watch when Mohan sold to Karim \[ = \]\[10\% \]
Selling price ( SP): when CP and profit percent is given by formula
\[SP = CP \times \dfrac{{(100 + gain\% )}}{{100}}\]
Hence,
\[SP = x \times \dfrac{{(100 + 10)}}{{100}} = \dfrac{{110x}}{{100}}\]
Thus, Karim buys at Rs. \[\dfrac{{110x}}{{100}}\]
Now Karim is sold to Rahim at \[4\] percent profit.
Hence
\[SP = \dfrac{{110x}}{{100}} \times \dfrac{{(100 + 4)}}{{100}} = \dfrac{{104 \times 11x}}{{1000}}\]
But Rahim pays Rs. \[14300\]
Therefore, \[\dfrac{{104 \times 11x}}{{1000}} = 14300\]
Cross multiply the above numerator and denominator to get the value ‘x’, then
On solving, we get
\[x = \dfrac{{14300 \times 1000}}{{104 \times 11}}\]
Hence \[x = 12500\]
Since, the cost price of the watch which Mohan purchased be \[x\]
Therefore, Mohan pays Rs. \[12500\] for the watch.
Hence, Mohan sold a watch to Karim at a gain of \[10\% \] and Karim sold it to Rahim at a gain of \[4\% \]. If Rahim pays him Rs. \[14300\] for it. Mohan purchased it for Rs. \[12500\]
So, the correct answer is “ Rs. \[12500\]”.
Note: Cost Price is the actual price at which goods or services are purchased.
Selling price is the actual price at which same goods or services are sold.
Profit \[ = \] \[SP - CP\]
Loss \[ = \] \[CP - SP\]
When SP and loss or profit percent is given then \[CP = SP \times \dfrac{{(100 \pm gain/loss\% )}}{{100}}\].
Recently Updated Pages
Mark and label the given geoinformation on the outline class 11 social science CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
When people say No pun intended what does that mea class 8 english CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Name the states which share their boundary with Indias class 9 social science CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Give an account of the Northern Plains of India class 9 social science CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Change the following sentences into negative and interrogative class 10 english CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Advantages and disadvantages of science
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Trending doubts
Bimbisara was the founder of dynasty A Nanda B Haryanka class 6 social science CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Which are the Top 10 Largest Countries of the World?
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Difference between Prokaryotic cell and Eukaryotic class 11 biology CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Differentiate between homogeneous and heterogeneous class 12 chemistry CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
10 examples of evaporation in daily life with explanations
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Fill the blanks with the suitable prepositions 1 The class 9 english CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Give 10 examples for herbs , shrubs , climbers , creepers
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
How do you graph the function fx 4x class 9 maths CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Difference Between Plant Cell and Animal Cell
![arrow-right](/cdn/images/seo-templates/arrow-right.png)