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By selling a pair of earings at a discount of $25 %$ on the marked price, a jeweler makes a profit of $16 % .$ If the profit is Rs. 48, what is the cost price? What is the marked price and the price at which the pair was eventually bought?

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C.P=300, M.P=464, S.P=348

C.P=300, M.P=400, S.P=348

C.P=300, M.P=404, S.P=308

C.P=380, M.P=864, S.P=348

answer is A.

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Detailed Solution

Given,

P r o f i t = 16 %

Let the cost price (CP) of the pair of earrings be Rs. x.
Selling price (SP) is given by,

SP = 100 + Profit % 100 CP ⇒ 16 + 100 100 (x) ⇒ 116100 x

We know that,

SP − CP = Profit ⇒ 116 x 100 − x = 48 ⇒ 16 x = 4800 ⇒ x = 300

Calculating selling price,

SP = 116 x 100 ⇒ 116300100 ⇒ 348

The cost price CP, selling price SP, and marked price MP are Rs.300, Rs.348 and Rs.464 respectively.
Therefore, option (1) is correct.

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