Question

A shopkeeper allow 23% commission on his advertised price and still makes a profit of 10%.If he gain Rs 56 on one item,find his advertised price.

Answer 1

Advertised price of the item = ₹ N

∴ Commission on advertised price of the article = ₹ (N x 23)/100

Price after commission = N - (23N/100) = ₹ 77N/100

∴ CP of the item = [(77N/100) x 100]/(100 + 10) = 77N/110 = ₹ 7N/10

Profit = 77N/100 - 7N/10 = ₹ 7N/100

⇒ 56 = 7N/100

∴ N = (56 x 100)/7 = ₹ 800