Question

A jeweller allows a discount of 16percent to his customer and still gains 20 percent. Find the marked price of a ring which costs the jeweller rs 1190

Answer 1

Cost Price = Rs 1190

Cost Price with gain:

Gain = 20% of Rs 1190

Gain = 0.2 x 1190 = Rs 238

Price with gain = 238 + 1190

Price with gain = Rs 1428

Find the Marked Price:

Discount = 16%

Discounted price = 100 - 16% = 84%

84% = Rs 1428

1% = 1428 ÷ 84 = Rs 17

100% = 17 x 100 = Rs 1700

Answer: The marked price is Rs 1700

Answer 2

let the market price be ' x '

cost price = Rs 1190

Find the gain :
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gain = 20 % of C.P

=20 % of 1190 = 0.2 × 1190 = Rs 238

price with gain = selling price

Find the selling price :
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selling price = C.P + gain

=1190 + 238 = Rs 1428

discount given = 16 % of market price

discount = 16 % of x = 0.16 x

solve for ' x ' :
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market price - discount = selling price

x - 0.16x = 1428

0.84x = 1428 => 84x = 142800

x =Rs 1700

therefore,market price of ring = Rs1700

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