Question

A tradesman marks his goods at such a price that after allowing a discount of 15%, he
makes a profit of 20%. What is the marked price of an article whose cost price is * 170 ?
​

Answer 1

Answer:

240 is the marked price.

Step-by-step explanation:

Given:

Cost Price of the article = 170

Profit % = 20%

Discount % = 15%

Asked:

Marked Price = ?

Solution:

Let the Selling Price be 'y',

Profit = 20% of Cost Price

⇒ $\frac{20}{100}$ × 170

⇒ 2 × 17

⇒ 34

Profit = 34

Selling Price = Cost Price + Profit

⇒ 170 + 34

⇒ 204

Selling Price = 204

Let the Marked Price be 'x',

Discount = 15% of Marked Price

⇒ $\frac{15}{100}$ × x

⇒ $\frac{3}{20}$ × x

⇒ $\frac{3x}{20}$

Discount = $\frac{3x}{20}$

Selling Price = Marked Price - Discount

⇒ x - $\frac{3x}{20}$

⇒ $\frac{20x}{20}$ -  $\frac{3x}{20}$

⇒ $\frac{17x}{20}$

Selling Price = $\frac{17x}{20}$

Now,

as per question, the equation formed is,

$\frac{17x}{20}$ = 204

⇒ x = $\frac{204}{17}$ × 20

⇒ x = 12 × 20

⇒ x = 240

Marked Price = 240

Verification:

For knowing that the answer is correct or not?, we will verify it.

We know,

Marked Price = 240

Selling Price = 204

Now we will first find the value of Discount and then find the Discount % which is given in the question. If the discount % of the question and the discount % which we will count be the same, then the answer is exactly correct!

Let's start,

Discount = Marked Price - Selling Price

⇒ 240 - 204

⇒ 36

Discount = 36

Discount % = $\frac{Discount}{Marked Price}$ × 100

⇒ $\frac{36}{240}$ × 100%

⇒ $\frac{3}{20}$ × 100%

⇒ 3 × 5%

⇒ 15%

Discount % = 15%

As I told, the discount % in question and in the verification is same!

Hence, Marked Price = 240