Question

The cost of price of an article is rs 1600, which is 20% below the marked price. If the article is sold at a discount of 16%. Find marked price, selling price and profit percentage.

Answer 1

cp 1600
cp×120/100 =mp
1600×120/100 =mp
mp=1920
sp = 1920×84/100=1612.8
cp=1600
sp = 1612.8
profit= 12.8
profit% = 12.8/1600 ×100
=8/10
=.8%

Answer 2

Answer:

Market price = Rs.2000

Selling price = Rs.1680

Profit percentage = 5%.  

Step-by-step explanation:

Given : The cost of price of an article is rs 1600, which is 20% below the marked price. If the article is sold at a discount of 16%.

To Find : The marked price, selling price and profit percentage?

Solution :

Let the market price be 'x'.

The cost of price of an article is rs 1600, which is 20% below the marked price.

According to question,

$80\%\text{ of } x=1600$

$\frac{80}{100}\times x=1600$

$x=\frac{1600\times 100}{80}$

$x=2000$

Market price = Rs.2000

If the article is sold at a discount of 16%.

The selling price is given by,

$SP=\frac{100-D\%}{100}\times MP$

$SP=\frac{100-16}{100}\times2000$

$SP=\frac{84}{100}\times2000$

$SP=1680$

Selling price = Rs.1680

Cost price = Rs.1600

Profit percentage is given by,

$P\%=\frac{SP-CP}{CP}\times 100$

$P\%=\frac{1680-1600}{1600}\times 100$

$P\%=\frac{80}{1600}\times 100$

$P\%=5\%$

Profit percentage = 5%.