P sells an item to Q at 54% profit. Q sells the same item to R at 60% loss. If R paid ₹ 5467 for the item, then at what price (in ₹) is the item purchased by P?
Given:
P's profit = 54%
Q's loss = 60%
R's purchase price = ₹5467
Formula used:
Selling Price = Cost Price × (1 ± Profit/Loss%)
Solution:
Let P's cost price = x
P sells to Q at 54% profit => Q's cost price = x × 1.54
Q sells to R at 60% loss => R's price = Q's cost × 0.40
So, x × 1.54 × 0.40 = 5467
x × 0.616 = 5467
x = 5467 ÷ 0.616 = ₹8875
∴ The item was purchased by P at ₹8875.
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