Question

Mohan bought a jute bag @ 30% discount on the list price. He then sold it at a price which is 160% of the list price thereby making a profit of Rs.81.

Answer 1

Let the LP be 100
So, cost price = 100 × 70%
= 70
SP = 100 × 160% = 160
Profit = 160 – 70 = 90
When profit is 90, LP = 100

When profit is 81 LP = 100 x 81/90 =90

Answer 2

The list price of the bag is Rs.90.

Step-by-step explanation:

Given : Mohan bought a jute bag @ 30% discount on the list price. He then sold it at a price which is 160% of the list price thereby making a profit of Rs.81.

To find : What is the list price of the bag?

Solution :

Let the list price be '100'.

Mohan bought a jute bag @ 30% discount on the list price.

i.e. the cost price is $CP=\frac{100-D\%}{100}\times LP$

$CP=\frac{100-30}{100}\times 100$

$CP=70$

The cost price is Rs.70.

He then sold it at a price which is 160% of the list price.

i.e. the selling price is $SP=160\% \times LP$

$SP=\frac{160}{100}\times 100$

$SP=160$

The selling price is Rs.160.

Profit = Selling price - Cost price

Profit = Rs.160- Rs.70

Profit = Rs.90

When profit is Rs.90 the list price is 100.

When profit is Rs.81 the list price is $\frac{100}{90}\times 81$

When profit is Rs.81 the list price is Rs.90.

Therefore, the list price of the bag is Rs.90.

#Learn more

A shopkeeper sells a saree at 8% profit and a sweater at 10% discount, thereby, getting a sum Rs 1008. If she had sold the saree at 10% profit and the sweater at 8% discount, she would have got Rs 1028. Find the cost price of the saree and the list price (price before discount) of the sweater.

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