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A television of marked price Rs. 16000 was sold by a shopkeeper after giving 3 successive discounts of 10%, 20% and 12.5% still shopkeeper manage to get a profit of 16.67%, Find the cost price of the television.
1. Rs. 9640
2. Rs. 10440
3. Rs. 12450
4. Rs. 8640
5. Rs. 8260

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Correct Answer - Option 4 : Rs. 8640

Given:

3 successive discount of 10%, 20% and 12.5%

Profit = 16.67%

Marked price = 16000

Formula used:

Cost price × (100 + Profit percentage)/100 = Selling price

Selling price = Marked price × (100 – Discount percentage)/100

Concept:

The fractional value of 100% = 1, 16.67% = 1/6, 20% = 1/5, 10% = 1/10 and 12.5% = 1/8

Calculation:

Let the cost price of the television be x

According to the question

x × 116.67/100 = 16000 × (90/100) × (80/100) × (87.5/100)

⇒ x × 7/6 = 16000 × (9/10) × (4/5) × (7/8)

⇒ x = 40 × 6 × 9 × 4 = 8640

∴ Cost price of television (x) = Rs. 8640

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