Question

A shopkeeper allows a discount of 10% on his goods and still makes a profit of 20%. Find the Cost Price of an item whose marked price is Rs.1700

Answer 1

Answer:

Cost price is 1275

Step-by-step explanation:

Given,

A shopkeeper allows a discount of 10% on his goods and still makes a profit of 20%.

Discount=10%

profit=20%

Find the Cost Price of an item whose marked price is Rs.1700

MRP=1700

Discount will be given on MRP

(100-Discount)%*MRP=SP

(100-10)%*1700=SP

SP=1530

CP=SP*100/(100+gain)

CP=1530*100/120

CP=1275