Question

A shopkeeper mark his goods 30% above the cost price and allows 15 %discount on it. If he sells his goods for 1038.70.what is the cost price?

Answer 1

Answer:

Cost Price = 940

Step-by-step explanation:

Cost Price = C

Marked Price = Cost Price + 30% of Cost Price

=> Marled Price = C + (30/100)C

=> Marked Price = C + 0.3C

=> Marked Price = 1.3C

Discount = 15 %

15 % Discount on Marked Price = (15/100) * 1.3C

= 0.195C

Selling Price = Marked Price - Discount

=> Selling Price = 1.3C - 0.195C

=> Selling Price = 1.105C

1.105 C = 1038.7

=> C = 1038.7 / 1.105

=> C = 940

Cost Price = 940