Question

Rohit marks his goods at 40% above the cost price but allows a discount of 5% for cash payment f to his customers what actual profit does he make if he receives rupees 1064 after allowing the discount

Answer 1

Let CP be x
After increasing CP by 40%, the goods cost=x+40x/100=140x/100=7x/5
After giving a discount of 5%, the price is=7x/5-5/100(7x/5)=7x/5-7x/100=133x/100
This is equal to Rs. 1064
=>133x/100=1064
=>x=800
Therefore CP is Rs. 800 and SP is Rs. 1064
Thus, actual profit= Rs.(1064-800)= Rs. 264
Hope it helps!

Answer 2

Answer: Its actual profit is Rs. 264.

Step-by-step explanation:

Since we have given that

Let the cost price of goods be 100

Mark up percent = 40%

So, Marked price become = Rs. 140

Discount percent = 5%

As we know the relation between profit and discount with marked and cost price:

$Marked=Cost\times \frac{100+Profit}{100-Discount}\\\\140=100\times \frac{100+Profit}{100-5}\\\\\frac{140\times 95}{100}=100+Profit\\\\133=100+Profit\\\\Profit=33$

Now, He receives Rs. 1064 after allowing discount.

So, It means at 33% profit, he gets Rs. 1064

We need to find the actual profit:

$Selling \ price=\frac{100+Profit\%}{100}\times Cost\ price\\\\1064=\frac{100+33}{100}\times Cost\ price\\\\\frac{1064\times 100}{133}=Cost\ price\\\\Cost\ price=Rs.800$

Profit = Selling price - Cost Price

$Profit=1064-800\\\\Profit=Rs.264$

Hence, its actual profit is Rs. 264.