A trader bought a bicycle for Rs 2500. After allowing a discount of 25% on the marked price, he incurs a loss of 8% on it. Find the marked price of the bicycle
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Let the marked price be X.
Now as per question,
X-25% of X = 2500 - 8% of 2500 (As cycle was purchased for Rs. 2500 and upon selling it, trader incurred a loss of 8%, as he gave discount of 25% on marked price. So, 25% of marked price should be equal to 2500- 8% of 2500)
After solving we get =>
X – 25X/100 = 2500 – 2500 x 8/100
(100X-25X)/100 = 2500 – 200
75X/100 = 2300
75X = 230000
X = 3067
Marked Price = Rs. 3067
Now as per question,
X-25% of X = 2500 - 8% of 2500 (As cycle was purchased for Rs. 2500 and upon selling it, trader incurred a loss of 8%, as he gave discount of 25% on marked price. So, 25% of marked price should be equal to 2500- 8% of 2500)
After solving we get =>
X – 25X/100 = 2500 – 2500 x 8/100
(100X-25X)/100 = 2500 – 200
75X/100 = 2300
75X = 230000
X = 3067
Marked Price = Rs. 3067
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2
Answer:
The price on the label of an article/product is called the marked price or list price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price. It is generally denoted by MP.
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