Question

An article is sold for Rs. 550 at a gain of 10%. What is the cost price of the article? At what price must it be sold

to gain 40%?​

Answer 1

Step-by-step explanation:

Marked price of the article = Rs. 550

Discount given = 10% of marked price = Rs. 55

So here Selling price will be =

Marked price - Discount Given

Selling price = 550-55 = Rs. 495

Gain for the shopkeeper is Rs. 75

So cost price of articles will be =

Selling price - Shopkeeper profit

Cost price = 495–75=Rs.420

Difference in cost price and marked price =

550-420= Rs. 130

Percentage of difference in marked price and cost price according to cost price =

(130÷420)×100

= 0.3095×100

=30.95%