A shopkeeper offers 10% discounts on all his goods and still makes a profit of 17℅. If an item is marked ₹260,find its cost price.
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answer is 246.91.........
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Answer:
the cost price (cp) of the article is ₹200.
Given:
- discount = 10 %
- profit earned = 17 %
- marked price = ₹260
To find:
the cost price of the item
Solution:
sp = mp - discount
sp = 260 - [10/100 x 260]
sp = 260 - 26
sp = 234.
when the shopkeeper sells his item at 234, he earns a profit of 17%.
so,
profit % = profit / cp x 100 ; (profit = sp-cp)
17 = [234- cp] / cp x 100
17 cp = 23400 - 100 cp
117 cp = 23400
cp = 23400 / 117
cp = ₹200
Hence, ₹200 is the correct answer.
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