Shiv is a mobile shop owner and sold a mobile to a customer Bhuvan at 17.5% profit. After some days, Bhuvan sold that mobile to Chandan at 40% loss. Chandan used the mobile for some days and sold the mobile at 20% loss to Shiv, who also sells old mobiles by refurbishing them. Shiv invested Rs. 1424 in the mobile for refurbishing and again sold it at 10% profit. Find the cost price of the mobile, if Shiv earned Rs. 650 by selling refurbished mobile. Correct Answer Rs. 9000 Since Shiv earned Rs. 650 (10%) by selling refurbished mobile and he invested Rs. 1424 in the mobile for refurbishing; ∴ Price at which Shiv bought the mobile from Chandan = 650/0.1 – 1424 ⇒ 6500 – 1424 ⇒ Rs. 5076 Since Chandan sold the mobile at 20% loss to Shiv; ∴ Price at which Chandan bought the mobile from Bhuvan = 5076/0.8 = Rs. 6345 Since Bhuvan sold that mobile to Chandan at 40% loss; ∴ Price at which Bhuvan bought the mobile from Shiv = 6345/0.6 = Rs. 10575 Since Shiv sold a mobile to a customer Bhuvan at 17.5% profit; ∴ Cost price of the mobile = 10575/1.175 = Rs. 9000