Jasmine allows 4% discount on the marked price of her goods and still earns a profit of 20%. What is the cost price of a shirt for her marked at Rs. 850?
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Cost price of a shirt is Rs 680
Step-by-step explanation:
Solution:
Given,
Gain = 20%
MP of the shirt = Rs 850
Discount = 4%
Discount allowed on the marked price of goods = 4/100 × 850
= Rs 34
So, SP of the shirt = (850 – 34) = Rs 816
By using the formula,
CP = 100/(100 + gain%) × SP
= 100/(100 + 20) × 816
= 100/120 × 816
= Rs 680
∴ Cost price of a shirt is Rs 680
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