Question

if the cost price of a product is rs 1000 the markup is 50% and the discount is 10%,then determine the selling price

Answer 1

CP- 1000
MP- 1500 (CP+50%CP)
Discount= 150(10%MP)

SP= MP-D
SP= 1500-150
SP=1350

Answer 2

Concept:

Profit (P) is the money made when a product is sold for more than what it costs to produce.

Loss (L) Is the sum that the seller experiences as a result of selling the item for less than its cost.

Cost Price (CP) A product's or commodity's purchasing price is referred to as the "cost price." Denoted as CP as well. This cost price is divided into two more categories:

Fixed Cost: Under any conditions, the fixed cost remains constant.

Variable Cost: It may change depending on the quantity purchased and other elements.

Selling Price (SP): The selling price is the price at which a product is offered for sale. Typically, it is identified as SP. also known as a sale price on occasion.

Marked Price: labelled by shopkeepers to offer a discount to the customers in a way such that,

Discount = Marked Price – Selling Price

Discount Percentage = (Discount/Marked price) x 100

Given:

The cost price of a product is rs 1000 the markup is 50% and the discount is 10%

Find:

Determine the selling price

Solution:

Cp = 1000

Mp = 1000+50% of 1000

      = 1000+500

      = 1500

Discount = 15% of 1000

      = 150

Sp = Mp- Discount

SP = 1500 - 150

SP = 1350

Therefore the selling price of the product is Rs 1350

#SPJ3