Question

A product when sold with 10% rebate on the listed price gave a profit of Rs. 70. What was its cost price?

Answer 1

Let the Market Price(M.P.) be Rs.100
Discount(Rebate)=10% of 100=10
S.P.=M.P.-DISCOUNT
=100-10=90
C.P.=S.P.-PROFIT=90-70=Rs.20

Answer 2

According to the question cost price will be 20