Q: 10 (IAS/2002)
question_subject:
Maths
question_exam:
IAS
stats:
0,3,3,2,1,3,0
keywords:
{'rebate': [0, 0, 1, 0], 'profit': [0, 0, 0, 1], 'price': [0, 3, 1, 12], 'trader': [0, 0, 1, 1], 'rs': [0, 0, 9, 3], 'cost': [2, 1, 2, 10], 'article': [54, 1, 15, 30]}
Let`s assume the price fixed on the article is Rs X.
Given that the cost of the article is Rs 72 and a profit of 15% is made after giving a 10% rebate on the price.
The selling price after a 10% rebate is given is (100% - 10%) = 90% of the price fixed, which is 0.9X.
The profit made is 15% of the cost, which is 0.15 * 72 = Rs 10.80.
We can set up the equation:
Selling price - Cost price = Profit
0.9X - 72 = 10.80
Solving this equation, we find:
0.9X = 10.80 + 72
0.9X = 82.80
X = 82.80 / 0.9
X ? Rs 92.00
Therefore, the price fixed on the article is approximately Rs 92.00.