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A rickshaw dealer buys 30 rickshaws for Rs. 4725. Of these, 8 are four-seaters and the rest are two seaters. At what price must he sell the four-seaters so that if he sells the two-two seaters at $$\frac{3}{4}$$th of this price, he makes a profit 40% on his outlay?
Answer & Solution
Correct Answer:
Option
B
On an investment of Rs. 4725, a profit of 40% means a profit of 1890.
Hence, the targeted sales realization is Rs. 6615.
The required equation;
8p + 22 × $$\frac{{3{\text{p}}}}{4}$$ = 6615
Or, 8p + $$\frac{{33{\text{p}}}}{2}$$ = 6615
In the expression for LHS = RHS; we need $$\frac{{33{\text{p}}}}{4}$$ to be odd number. This can only happen when p is not a multiple of 4. Hence, option a and c gets eliminated automatically.
Now, we check for option B which is correct.
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LoginHe bought 30 rickshaws for Rs 4725.
So this is his total spending.
2) He wants 40% profit
40% profit on Rs 4725 means he wants total selling money to be:
So all 30 rickshaws together must sell for Rs 6615.
3) Let price of one four-seater = Rs x
Then price of one two-seater = 3/4 of x
So:
8 four-seaters sell for 8x
22 two-seaters sell for:
Total selling price:
This must equal 6615.
Final answer
Price of one four-seater rickshaw = Rs 270
Then one two-seater will be:
So:
Four-seater = Rs 270
Two-seater = Rs 202.50
22-two seater price=22/2 * 3/4 p
so original eq 8p+(33/4)p=6615