sales person A sells on object at a price Rs.5 less than the market price . receiving a commission 5 percent on the selling price.the same object is sold by person B at a price Rs.15 less than the market price, receiving a commission of 15 percent on the selling if both a and b receive the same amount in commission then what is the marked price of the object
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The price on the label of an article/product is called the marked price or list price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price. It is generally denoted by MP.
When Discount is offered, M.P. > S.P.
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