Question

58. A businessman gives 10% discount on the marked price of a watch. If the cost price of the watch. is Rs. 300, then find out the marked price to get a profit of 20%?
(A) Rs. 300 (B) Rs. 360 (C) Rs. 400 (D) Rs. 450​

Answer 1

(C) Rs. 400

Given: Discount = 10% on marked price

           Cost price of the watch = Rs. 300

           Profit = 20%

To find: Marked price of the watch

Let: Marked price = X

Solution: According to the given problem,

C.P. (Cost price) = Rs. 300

Profit = 20%

.: Profit % = $\frac{Profit}{Cost Price}$ × 100

.: Profit = (Profit% x Cost Price) /100

            = (20 x 300)/100 = 60

.: Selling Price = Cost Price + Profit

Selling price of the watch = 300 + 60 = Rs. 360

Now, we need to calculate the marked price of the watch

.: Selling Price = Marked price - Discount

If marked price = Rs. X, then discount is 10% of X

⇒ 360 = X - 10/100 X

⇒ 360 = (100X - 10X)/100

⇒ 360 = 90X/100

⇒ 90X = 360 x 100 = 36000

⇒ X = 36000/90 = 400

Therefore, marked price of the watch is 400.