Question

a shopkeeper allows 20% discount on his goods and still earns a profit of 20%. if an article is sold for 360, find
1. marked price
2. cp

Answer 1

Find 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.