Question

A watch was bought for Rs1200. At what labeled .price should ot ne sold to gain 33 1/3% after discount of 20%.find also its selling price

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Answer 1

Answer:

Lebeled Price of watch = Rs. 2000

Selling price pf the watch = Rs. 1600

Step-by-step explanation:

Purchase price of the watch P = Rs. 1200

Let the Labeled price = L

Profit earned is 1/3 of the purchase price.

20% discount was offered on the labeled price.

∴ Selling price = Lebeled price - 20% discount

∴ S = L - 20% L

∴ S = 0.8 L   ..... (1)

This selling price earns 1/3  profit on purchase

∴ S = P + (1/3)P

∴ S = (4/3) P  ..... (2)

As we know, P = 1200

∴ S = (4/3) × 1200

∴ S = Rs. 1600

Substituting this value in eqn 1, we get lebeled price as

1600 = 0.8L

∴ L = 1600 ÷ 0.8

∴ L = Rs.2000

∴ Lebeled Price of watch = Rs. 2000

Selling price pf the watch = Rs. 1600