Question

After allowing 20% discount to the customer,dealer still gains 20%. Find the cost price of the fan whose marked price is Rs. 1600??​

Answer 1

Given:

Discount is 20%

Profit is 20%

Marked price is 1600

To find:

Cost price

Solution:

Finding the discount:

Discount on marked price

=> 1600 * 20/100

=> 320

Finding the selling price:

SP = Marked price - discount

SP = 1600 - 320

SP = 1280

Finding the cost price:

CP = [100/(100 + gain %)] × SP

CP = [100/ 100+ 20] x 1280

CP = [100/120] x 1280

CP = 128000/120

CP = 1066.66

Hence, the CP is Rs 1066.66

Answer 2

Given:-

• Discount is 20%

• Profit is 20%

• Marked price is 1600

To find:-

• Cost price

Solution:-

Finding the discount:-

Discount on marked price

=> 1600 * 20/100

=> 320

Finding the selling price:-

SP = Marked price - discount

SP = 1600 - 320

SP = 1280

Finding the cost price:-

CP = [100/(100 + gain %)] × SP

CP = [100/ 100+ 20] x 1280

CP = [100/120] x 1280

CP = 128000/120

CP = 1066.66

Hence, the CP is Rs 1066.66