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Question 35
Irfaan loves black coffee. A roadside stall selling a cup of black coffee at Rs. 120, offered 25% discount to Irfaan. If Irfaan was willing to pay even Rs. 200 for that coffee, Irfaan's consumer surplus is
Solution
Marked price = Rs. 120
Discount % = 25%
=> Selling price = $$120\times\frac{(100-25)}{100}$$
= $$1.2\times75=Rs.$$ $$90$$
Thus, Irfaan's consumer surplus = $$200-90=Rs.$$ $$110$$
=> Ans - (D)
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