Question

Rakhi allows 8% discount on the marked price of the suit and still makes a profit of 15%.If her gain over the sale of the suit is Rs156 , find the marked price of the suit.

Answer 1

Let the marked price of the suit be "x".

It is given that Rakhi allows a discount of 8%=0.08. Therefore, the Selling Price (SP) of the suit will be: $x-0.08x=0.92x$

Let the Cost Price of the Suit be given by CP.

We know that $SP-CP=156$.......Equation 1

Also, we have been given that:

$\frac{SP-CP}{CP}=\frac{15}{100}$....Equation 2

Therefore, from Equation 1 and Equation 2 we get:

$\frac{156}{CP}=\frac{15}{100}$

$\therefore CP=1040$

Now, from Equation 1, we get:

$0.92x-1040=156$

$\therefore x=1300$

Thus, the marked price of the suit is Rs. 1300