Question

what price should ankit mark on a table that cost him Rs 1470 so as to gain 10 % after allowing discount of 12.5% ?​

Answer 1

GIVEN :-

• cost price ( cp ) = rs 1470

• gain % ( g ) = 10 %

• discount % ( d ) = 12.5 %

TO FIND :-

• marked price ( mp ) = ?

SOLUTION :-

as we know to find marked price we have to find selling price ( sp )

so ,

$\implies\boxed{ \rm{sp = \dfrac{cp \: (100 + gain )}{100} } }$

$\implies \rm{ \dfrac{1470 \: (10 + 100)}{100} }$

$\implies \rm{ \dfrac{1470 \: (110)}{100} }$

$\implies \rm{ \dfrac{161700}{100} }$

$\implies \rm{ \bold{ \: sp \: = 1617 \: rupees }}$

NOW WE CAN FIND MARKED PRICE BY FORMULA :-

$\implies \boxed{ \rm{ \: mp \: = \dfrac{sp \times 100}{100 - discount \: } }}$

$\implies \rm{ \dfrac{ \: 1617 \times 100 \: }{ \: 100 - 12.5 \: } }$

$\implies \rm{ \dfrac{ \: 161700 \: }{ \: 87.5 \: } }$

$\implies \rm{ 1848 }$

hence ,

$\implies \boxed{ \boxed{ \rm{ \: mp \: = 1848 \: rupees} }}$

OTHER INFORMATION :-

Profit and Loss Basic Concepts :

Let us learn profit and loss concepts in maths. It is well explained in terms of cost price and selling price.

Profit(P)

• The amount gained by selling a product with more than its cost price.

Loss(L)

• The amount the seller incurs after selling the product less than its cost price, is mentioned as a loss.

Cost Price (CP)

• The amount paid for a product or commodity to purchase it is called a cost price. Also, denoted as CP. This cost price is further classified into two different categories:

Fixed Cost: The fixed cost is constant, it doesn’t vary under any circumstances

Variable Cost: It could vary depending as per the number of units

Selling Price (SP)

• The amount for which the product is sold is called Selling Price. It is usually denoted as SP. Also, sometimes called a sale price.

Marked Price Formula (MP)

• This is basically labelled by shopkeepers to offer a discount to the customers in such a way that,

• Discount = Marked Price – Selling Price

• Discount Percentage = (Discount/Marked price) x 100

Profit and Loss Examples

• If a shopkeeper brings a cloth for Rs.100 and sells it for Rs.120, then he has made a profit of Rs.20/-.

• If a salesperson has bought a textile material for Rs.300 and he has to sell it for Rs.250/-, then he has gone through a loss of Rs.50/-.

• Suppose, Ram brings a football for Rs. 500/- and he sells it to his friend for Rs. 600/-, then Ram has made a profit of Rs.100 with the gain percentage of 20%.

These are some common examples of the profit and loss concept in real life, which we observe regularly.