3) After giving a discount of 12.5%. a TV set is sold or 21.000. Find the marked price of the TV set.
following boxes with appropriate numbers and complete the activity
Solution : Let the price of the TV set be * 100
The 12.5
discount
12.5
the selling price is
₹
Let the actual marked price of the TV set hei which is sold for
8730
Answers
Step-by-step explanation:
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Quantitative Aptitude > Profit and Loss > Marked Price
Profit and Loss
Marked Price
In the profit and loss section, the cost of a product is very crucial. If you have marked the cost of the product wrong, you may not see any profit at all. In the following section, we will see what we mean by marked price. We will also see all the other relevant terms and try and understand how to determine marked price such that the profit is maximum. Let us begin with the following space below!
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Marked Price
The price on the label of an article/product is called the marked price or list price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price. It is generally denoted by MP.
When Discount is offered, M.P. > S.P.
When Discount is not offered, M.P. < S.P.
Marked Price
Sometimes marked price is used as a psychological tool for customers. For example, a set of headphones is being sold at Rs 999/-. One company has set the marked price at Rs 1000/- thus showing a little discount on the marked price. Another company sells the same product at the same cost but marks it at Rs. 1499/- thus giving the illusion of a heavy discount. The customers are more likely to buy the one marked at a higher price. This brings us up to the concept of discount.
Quick summary
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Finding Discounts
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Browse more Topics under Profit And Loss
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List Price
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Percentage Loss
Percentage Gain
Discounts and Marked Price
Equivalent Discount
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Goods Passing Through Successive Hands
True Discount
Bankers Discount
Profit and Loss Practice Questions
What is the Selling Price?
Discount
Discount is defined as the amount of rebate given on the label price (marked price) of an article. It is given by merchants/shopkeepers for attracting customers for increasing their sales.
Discount = Marked Price – Selling Price
Discount percentage = [(Discount)/(Marked price)]× 100. Before going on to solve more examples, let us recall all the formulas that we have seen thus far.
What is List Price?