naseem runs a readymade garments shop he marks the garments as such a price that even after allowing a discount of 12.5% he makes a profit of 10% find the Marked price of a suit with cost him rs 1470
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plz vote my answer the brainliest
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GIVEN :-
- cost price ( cp ) = rs 1470
- gain % ( g ) = 10 %
- discount % ( d ) = 12.5 %
TO FIND :-
- marked price ( mp ) = ?
SOLUTION :-
as we know to find marked price we have to find selling price ( sp )
so ,
NOW WE CAN FIND MARKED PRICE BY FORMULA :-
hence ,
OTHER INFORMATION :-
Profit and Loss Basic Concepts :
- Let us learn profit and loss concepts in maths. It is well explained in terms of cost price and selling price.
Profit(P)
- The amount gained by selling a product with more than its cost price.
Loss(L)
- The amount the seller incurs after selling the product less than its cost price, is mentioned as a loss.
Cost Price (CP)
- The amount paid for a product or commodity to purchase it is called a cost price. Also, denoted as CP. This cost price is further classified into two different categories:
Fixed Cost: The fixed cost is constant, it doesn’t vary under any circumstances
Variable Cost: It could vary depending as per the number of units
Selling Price (SP)
- The amount for which the product is sold is called Selling Price. It is usually denoted as SP. Also, sometimes called a sale price.
Marked Price Formula (MP)
- This is basically labelled by shopkeepers to offer a discount to the customers in such a way that,
Discount = Marked Price – Selling Price
Discount Percentage = (Discount/Marked price) x 100
Profit and Loss Examples
- If a shopkeeper brings a cloth for Rs.100 and sells it for Rs.120, then he has made a profit of Rs.20/-.
- If a salesperson has bought a textile material for Rs.300 and he has to sell it for Rs.250/-, then he has gone through a loss of Rs.50/-.
- Suppose, Ram brings a football for Rs. 500/- and he sells it to his friend for Rs. 600/-, then Ram has made a profit of Rs.100 with the gain percentage of 20%.
- These are some common examples of the profit and loss concept in real life, which we observe regularly.
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