A company instead of raising the mark-up by 20%, discounted the cost price by 20% while stitching the price tag on its product. Further the company offers a discount of 6.25% to its customer. In this process company incurs a loss of Rs. 37.5 on a single article. What is the selling price of that article?
Answers
Answer:
A company instead of raising the mark-up by 20%, discounted the cost price by 20% while stitching the price tag on its product. Further the company offers a discount of 6.25% to its customer. In this process company incurs a loss of Rs. 37.5 on a single article. What is the selling price of that article?
Answer:
112.50
Step-by-step explanation:
Ans: 112.50
Solution 1
Let the cost price of one article be
10000
x
Price in the price tag =
10000
x
×
100
−
20
100
=
10000
x
×
80
100
=
8000
x
selling price of one article
=
8000
x
×
100
−
6.25
100
=
80
x
×
93.75
=
7500
x
Loss =
10000
x
−
7500
x
=
2500
x
Now we have
2500
x
=
37.5
x
=
37.5
2500
selling price of one article =
7500
x
=
7500
×
37.5
2500
=
3
×
37.5
=
112.5
Note: we have taken cost price of one article as
10000
x
for ease of calculations. doing with
x
gives the same results
Solution 2
Or we can also do such problems without any variables.
Suppose cost price of one article = 100
Price in the price tag = 80
Selling price of one article
=
80
×
100
−
6.25
100
=
75
Loss = 100 - 75 = 25
When we have taken the cost price as 100, loss = 25
For loss of 37.5, cost price
=
100
25
×
37.5
=
150
selling price = cost price - loss
= 150 - 37.5
= 112.5