A shopkeeper offers 10% off-season discount to the customers and still makes a profit of 26%. What is the cost price for the shopkeeper on a pair of shoes marked at Rs. 1120?
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Answer:
Cost price of a pair shoes is Rs 800
Step-by-step explanation:
Solution:
Given,
MP of pair of shoes = Rs 1120
Profit = 26%
Discount = 10%
Discount allowed = 10/100 × 1120
= Rs 112
So, SP of the shoes = (1120 – 112) = Rs 1008
By using the formula,
CP = 100/(100 + gain%) × SP
= 100/(100 + 26) × 1008
= 100/126 × 1008
= Rs 800
∴ Cost price of a pair shoes is Rs 800
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