Question

8)
The cost price of an article is 500. The
shopkeeper marks it at a certain price and
then gives a discount of 20% on it. If after
the discount, he still gets a profit of 10%,
find the marked price.​

Answer 1

Answer:

Marked Price = Rs.687.50

Step-by-step explanation:

CP = cost price = 500

SP = ?

MP = marked price = ?

Discount = 20%

Profit = 10%

Now,

Profit = 10%

=> SP is 10% more than CP

=> SP = CP + 10% of CP

=> SP = CP + 0.1*CP

=> SP = 1.1*CP

=> SP = 1.1*500

=> SP = 550

SP = MP less (discount applied on MP)

Discount = 20%

=> SP = MP less 20% of MP

=> SP = MP - 0.2*MP

=> SP = (1 - 0.2)*MP

=> SP = 0.8*MP

=> MP = SP/0.8

Using SP = 550

=> MP = 550/0.8

=> MP = 687.5

Marked Price = Rs.687.50

Verification:

MP = 687.50

=> SP = 687.50 less 20% of 687.50 = 0.8*687.50 = 550

CP = 500

=> Profit = 550 - 500 = 50

Profit% = 100*(Profit/CP) = 100*(50/500) = 100*(1/10) = 10 (as given in the sum)