Question

A man allows 20% discount on the M.P of his goods and still earns a profit of 4%. What is the Cost Price of the goods for him, marked at ₹600?

Answer 1

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$<b><i><font face=Copper black size=4 color=blue>$ Here is your answer.
MP = 600
Discount % = 20%

Discount = 20% of 600
$= \frac{20}{100} \times 600 \\ = 120$
So,
SP = MP - DISCOUNT
$= 600 - 120 \\ = 480$
Profit % = 4%
As we know the formula

CP = SP× 100/(100+ PROFIT%)
$= \frac{480 \times 100}{100 + 4} \\ = \frac{48000}{104} \\ = 461.53$

Therefore Cost price is Rs 461.53



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Answer 2

Finds the marked price:

Discount = 20%

Selling Price = 100 - 20 = 80%

80% = Rs 360

1% = 360 ÷ 80 = Rs 4.50

100% = 4.5 x 100 = Rs 450

Find the cost price:

Profit = 20%

Selling Price = 100 + 20 = 120%

120% = Rs 360

1% = 360 ÷ 120 = Rs 3

100% = 3 x 100 = Rs 300

Answer:

$The marked price is Rs 450 and the cost price is Rs 300<b>$