Priti allows 8% discount on the marked price of the suits and still makes a profit of 15%.If her gain over the sale of the suit is ₹156, find the marked price of the suit.
Answers
Given,
Priti allows an 8% discount on the marked price of the suits and still makes a profit of 15%.
Her gain over the sale of the suit = ₹ 156
To find,
The marked price of the suit.
Solution,
We can simply solve this mathematical problem using the following process:
Let us assume that the cost price and marked price of the suit for Priti are Rs. x and Rs. y, respectively.
Mathematically,
p% of a value A is calculated as follows:(p/100)×A
{Statement-1}
Now, according to the question;
Profit percentage of Priti = 15%
=> total profit made by Priti by selling the suit by allowing an 8% discount on the marked price= Rs. 156
=> 15% of the cost price of the suit = ₹ 156
=> 15/100 × x = 156
{according to statement-1}
=> x = 15600/15 = 1040
=> the cost price of the suit = ₹ 1040
Now, selling price of the suit after allowing an 8% discount on the marked price
= cost price + profit
= ₹ 1040 + ₹ 156
= ₹ 1196
Now, according to the question;
Priti sells the suit at ₹ 1196 after allowing an 8% discount on the marked price
=> (marked price) - (8% of the marked price) = (the selling price of the suit)
=> ₹ y - (8% of ₹ y) = ₹ 1196
=> y - (8/100)×y = 1196
=> (100y - 8y)/100 = 1196
=> 92y = 119600
=> y = (119600/92) = 1300
=> the marked price of the suit = ₹ 1300
Hence, the marked price of the suit is equal to ₹ 1300.