A trader marks up his good such that he can gain 5% profit after giving 20% discount to his customer. One particular customer availed a discount of 10% only. If the profit earned by the trader from this customer is rs 58 then what is the cost price of the good?
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Given:
Profit earned by the trader from this customer is rs 58.
To find:
cost price of the good.
Solution:
1) Let the cost price of the good is 100.
2) So after having the profit of 5% the selling price of the good must be 105.
3) It is given in the question that the trader give the 20% discount then the marked price of the good is given by
- 105 / 80 × 100
- 131.25
So the marked price of the good is 131.25 .
4) But this customer availed the 105 discount only then the selling price of the good would be given by
- 131.25 / 100 × 90
- 118.125
Now the selling price of the good is 118.125
5) So the profit must be 18.125
6) But according to the question it is rs 58, so will equate both to find the Cost price of the good.
18.125 ⇒ 58
1 ⇒ 58 / 18.125
100 ⇒ 58 / 18.125 × 100
⇒ 320
The cost price of the good is ₹320.
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