Question

Ravi marks his product 40% above the cost price and then gives a discount of 20%. If the profit made is rs 24, find the cost price.

Answer 1

let the price of the product be x 
percentage increase=40%
so the new price=(140/100) of x

he gives a discount of 20% --> 140/100 of x * 20/100
                                                  =28/100 of x
the new price of the product = [(140/100)-(28/100)] of x
                                              =112/100 of x 
 profit percentage = 112/100 - 100/100
                             = 12%


                    (12/100) of x = 24
                      x=24*100/12
                           x=rs200