Question

A wholesaler sold an electric item to a retailer at 20% profit. The retailer sold it

for Rs 2052 to a customer at 5% loss.
(i) How much did the retailer pay for it?
(ii) How much did the wholesaler pay for it?​

Answer 1

Answer: 2160 (ii) 2700

Step-by-step explanation: if 5% was the loss, it means 2052 was the remaining 95%, therefore you divide 2052 by 95 to get the amount of money equivalent to 1% which is 21.6 which you will then multiply by 5 to get 108 which was the 5% loss. You can then add 108 to 2052 to get 2160 which was the amount of money the retailer paid for it.

(ii) To get the amount the wholesaler paid for it, you have to take the amount that the retailer paid for it (2160) and divide it by 80 to get the amount of money equivalent to 1% and that's 27, which you will then multiply by 20 to get 540 which was the 20% loss. Then you can now add 540 to 2160 to get 2700 which was the amount that the wholesaler paid for it.

Answer 2

(i) The retailer paid Rs 2160 for it

(ii) The wholesaler paid Rs 1800 for it

Explanation:

Let the original price of the electric item = Rs x

The wholesaler sold it at Rs (x + 0.2x) = 1.2x to make a gain of 20%.

The retailer sold it for Rs 2052 at a loss of 5%, so that;

1.2x - 0.05(1.2x) = 2052

1.2x - 0.06x = 2052

1.14x = 2052

x = 1800

∴ the original price of the electric item = Rs 1800

(I) Amount paid by retailer to the wholesaler = 1.2x

= 1.2 (1800)

= Rs 2160

(ii) Amount paid by the wholesaler is the original amount of the item = Rs 1800