Question

Cost price of an article is 39% less than the marked price of the article and shopkeeper earned 40% profit
in selling the article. If amount of profit is Rs.196 more than amount of discount, then find cost price of article.
1. Rs.1345
2. Rs.1325
3. Rs.1290
4. Rs.1245
5. Rs.1220​

Answer 1

Answer:

The cost price of the article is Rs. 1220.

Step-by-step explanation:

Let the marked price of the article be $x$.

Then the cost price is:

$CP = x-(x\times39\%)\\=x(1-\frac{39}{100})\\ =0.61x$

The profit percent was 40%.

Compute the selling price as follows:

$SP=CP+(CP\times Profit\%)\\=0.61x+(0.61x\times\frac{40}{100})\\=0.61x\times\frac{140}{100} \\=0.854x$

The profit was:

$Profit=SP-CP\\=0.854x-0.61x\\=0.244x$

The discounted amount is:

$Discount=Marked\ Price-Selling\ Price\\=x-0.854x\\=0.146x$

It is given that the profit is Rs. 196 more than the discounted amount, i.e.

$Profit = 196 + Discounted\ Amount$

Determine the value of $x$ as follows:

$Profit = 196 + Discounted\ Amount\\0.244x=196+0.146x\\0.098x=196\\x=\frac{196}{0.098}\\=2000$

Compute the cost price of the article:

$CP=0.61x\\=0.61\times2000\\=1220$

Thus, the cost price of the article is Rs. 1220.