a shopkeeper on the face value of an item allow a commission of 8%and earns a profit of 15% if the purchasing price of an item is 80 then the face value of the item is
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Step-by-step explanation:
. Find the S.P. if
(i) M.P. = Rs 1300 and Discount = 10%
(ii) M.P. = Rs 500 and Discount = 15%
Solution:
(i) Given,
M.P. = 1300
Discount = 10%
By using the formulas
SP = Marked price (MP) – Discount
Discount = (MP × Discount %)/100
Discount% = (Discount)/M.P. × 100
By using,
Discount = (MP × Discount %)/100
= (1300×10)/100
= Rs 130
SP = MP – Discount
= (1300 – 130) = Rs 1170
(ii) Given,
M.P. = 500
Discount = 15%
By using,
Discount = (MP × Discount %)/100
= (500×15)/100
= Rs 75
SP = MP – Discount
= (500 – 75) = Rs 425
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