Question

The cost price of an article is R1600, which is 20% below the marked price. If the article is sold at
a discount of 16%, find
(1) the marked price
(i) the selling price
His profit percentage​

Answer 1

Step-by-step explanation:

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%.

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

$80\% \: of \: x \: = \: 1600 \\ \frac{80}{100} \times x = 1600 \\ x = \frac{1600 \times 100}{80} \\ x = 2000$

Market price = Rs.2000

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

The selling price is given by,

$sp = \frac{100 - p\%}{100} \times mp \\ sp = \frac{100 - 16}{100} \times 2000 \\ sp = \frac{84}{100} \times 2000 \\ sp = 1680$

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%.