Question

A garments retailer gives a percentage discount on formal coats, which is
equal to his profit percentage on formal coats. The cost price to MRP ratio
is 3:5 on formal coats. If selling price of a formal coat is $120, what is the
cost price of one formal coat?​

Answer 1

The ratio of the cost price to the MRP of a formal coat=3:5

Selling price of a formal coat=$120

We know that the MRP and selling price are one and the same.

Which means :-

The cost price =3x

The selling price or MRP=5x

We can write this as a proportion as :-

$= \bold{3}x : \bold{5}x : : \bold{CP : 120}$

This will mean :-

$= CP= \frac{120 \times 3}{5}$

$= CP = \frac{360}{5}$

$=\bold{ CP = 72}$

Thus, the cost price=$72

Therefore,the cost price of the formal coat=$72

Answer 2

A formal coat's cost price to MRP ratio is 3: 5.

A dressy coat costs $120 to buy.

We are aware that the selling price and the MRP are identical.

which implies:

The selling price or MRP= 5x

and the cost price = 3x

This may be expressed as a ratio using the notation

= Cost price, therefore, equals $72

Consequently, the formal coat's cost is $72.

The answer is $72

#SPJ2