Question

Comprehension: Read the given passage carefully and answer the following questions. An item is marked for `28,000. Dealer A bought the item from its manufacturing company at a 20% discount on the marked price and sold it by giving a 12% discount on the marked price. Dealer B bought he same item from the same manufacturing company at a 30% discount on he marked price and sold it by giving a 25% discount on the marked price. Suppose dealer C bought the same item at a 25% discount on the marked price and sold by giving two equal successive discounts of p% on the marked price so that he will get an 8% profit in the deal. The same item is available in installment plan also. A customer can buy the item by giving `4,200 case down payment followed by 2 equal annual instalments of `12,100. The dealer charged compound interest at 10% p.a. For dealer C, what is the value of p?

• A. 8
• B. 6
• C. 9
• D. 10

Answer 1

Answer: (D)