Question

Even after giving a discount of 20% the shop owner gets a profit of 10%. If the marked price is Rs. 2,200 then the cost price is.​

Answer 1

Given data : Even after giving a discount of 20% the shop owner gets a profit of 10%. If the marked price is Rs 2,200.

Solution : Now we use formule to find cost price,

⟹ discount% = (discount/market price) * 100

⟹ 20 = (discount/2200) * 100

⟹ 20/100 = discount/2200

⟹ 0.2 = discount/2200

⟹ discount = 0.2 * 2200

⟹ discount = Rs 440

Now,

⟹ discount = market price - selling price

⟹ 440 = 2200 - selling price

⟹ selling price = 2200 - 440

⟹ selling price = Rs 1760

Now,

⟹ cost price = (100 * selling price)/(100 + profit%)

⟹ cost price = (100 * 1760)/(100 + 20)

⟹ cost price = 176000/120

⟹ cost price = Rs 1466.666667

Answer : Hence cost price is Rs 1466.666667

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