Question

Mr. Doshi instead of marking up the cost price by 10% discounted the cost price by 10% and prepared the price tag
of a shirt. A discount of 5% is applicable to the list price. Because of the mistake, the company earned Rs. 76 less per
shirt. What is the cost price of the shirt?​

Answer 1

Step-by-step explanation:

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Answer 2

The cost price of the shirt is 400Rs

CONCEPT-

1) Mark up % calculated on Cost price of the article gives us Mark up price.

So here mark up price is

$mark up= 10\% of CP$

And Mark up price added to the cost price gives us Marked price (MP)

$CP+ mark \: up = MP$

Let CP be 100x ,So

$MP= 100x+10\% \: of \: 100x$

$=110x$

2) Discount % calculated on MP gives us discount

So in the question

$5\% \: of 110x = 5.5x = discount$

AND

$\: MP-Discount = SP$

$110x-5.5x= 104.5x = sp$

IN NORMAL CONDITIONS SP = 104.5 X

But in the question instead of marking up the price the shopkeeper accidently gives 10% discount on CP

SO

$here, \: MP= CP- discount$

CP we have already assumed 100x

$Discount = 10\% \: of \: 100x= 10x$

$MP= 100x- 10x= 90x$

Now he gives a another discount of 5% which will be on MP

$Discount= 5\% \: of \: 90x = 4.5x$

$SP= MP- Discount$

$SP= 90x-4.5x= 85.5 x$

His SP should have been 104.5x but his SP is 85.5x

So

$Loss= 104.5x-85.5x= 19x$

Loss given in question = 76RS

$so \: 76 \: = 19x$

$x=4$

We assumed our CP as 100x

$100x= 100×4 = 400$

So CP of the shirt will be 400 RS

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