Discussion
Consider the following statements:
1. Shipra purchased a car for ₹ 3,50,000 and sold if for ₹ 4,48,000. Her gain is 28%.
2. A vendor bought oranges at rate of 6 oranges for ₹ 10 and sold them at rate of 4 oranges for ₹ 6. The percent loss the vendor incurred on the oranges is 20%.
3. After successive discount of 12% and 5%, an article was sold for ₹ 418. The original price of the article was ₹ 250.
How many of the statements given above are correct?
Answer: A
Only one statement is correct.
Statement 1: gain = 4,48,000 − 3,50,000 = 98,000, and \(98000 / 350000 = 28\%\). True.
Statement 2: cost per orange \(= 10/6 = 5/3\), selling price per orange \(= 6/4 = 3/2\). Loss per orange is \(5/3 - 3/2 = 1/6\), which is \(\tfrac{1/6}{5/3} = 10\%\), not 20%. False.
Statement 3: successive discounts of 12% and 5% leave \(0.88 \times 0.95 = 0.836\) of the price, so the original price is \(418 / 0.836 = 500\), not 250. False.
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