A) Rs. 1200
B) Rs. 1800
C) Rs. 2000
D) Rs. 2340
Correct Answer: C
Solution :
Let Rs. x be the cost price of the watch. Marked price of the watch\[=Rs.\,\frac{x\times (100+40)}{100}\] \[=Rs.\frac{140}{100}=Rs.\frac{7x}{5}\] Selling price of the watch \[=\left( \frac{7x}{5}\times \frac{100-10}{100} \right)\] \[=Rs.\frac{7x}{5}\times \frac{90}{100}=Rs.\,\frac{63x}{50}\] \[\therefore \] Gross profit \[=Rs.\left( \frac{63x}{50}-x \right)=Rs.\frac{63x}{50}\] Tax on gross profit \[=Rs.\frac{13x}{50}\times \frac{10}{100}=Rs.\frac{13x}{500}\] \[\therefore \] Net profit \[=Rs.\left( \frac{13x}{50}-\frac{13x}{500} \right)\] \[=Rs.\left( \frac{10-1}{500} \right)13x\] \[=Rs.\,\frac{117x}{500}\] But net profit \[=Rs.\,468\] \[\therefore \] \[\frac{117x}{500}=468\] \[\Rightarrow \] \[x=\frac{468\times 500}{117}=\operatorname{Rs}.\,2000\] \[\therefore \] Cost price of the watch is Rs. 2000.
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