Question

Mohan bought a jute bag @ 30% discount on the list price. He then sold it at a price which is 160% of the list price thereby making a profit of Rs.81. What is the list price of the bag? 

(a) Rs.90 (b) Rs.100 (c) Rs.180 (d) Rs.200 (e) None

Answer 1

(a) Let the LP be 100
So, cost price = 100 × 70%
= 70
SP = 100 × 160% = 160
Profit = 160 – 70 = 90
When profit is 90, LP = 100

When profit is 81 LP = 100 x 81/90 =90