a mobile phone shopkeeper allows 25% discount on the market price of the mobile phone and still make a profit of 20% if he gains ₹1500 over the sale of one mobile phone find the market price of the phone.?
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Answer:
The market price of the phone is Rs 10000
Step-by-step explanation:
Given : Discount = 25%
Profit percentage = 20%
Profit = Rs 1500
Market price = ?
Solution : Selling price = Profit / profit %
= 1500/20%
= 1500/0.2
= 7500 Rs
Market price = Selling price / (1- Discount%)
= 7500/ (1 - 25%)
= 7500/ (1-0.25)
= 7500/0.75
= 10000 Rs
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