Question

What price should a shopkeeper mark on an article that costs him Rs 600 to gain 20%, after allowing a discount of 10%

Answer 1

Given, the cost price of an article = Rs. 600

Also, the gain percentage = 20%

And discount allowed = 10%

We need to find out the marked price of the article.

⇒ Now, we know that gain = `("Gain"% xx "Cost price")/100`

∴ Gain = `(20 xx 600)/100` = Rs. 120

⇒ Now, we know that Selling Price = Gain + Cost Price

∴ SP = 120 + 600 = Rs. 720

Let marked price = Rs. x

Since, a discount of 10% is allowed.

⇒ x – 10% of x = Rs. 720

⇒ `x - ((10 xx x)/100) = 720`

⇒ `(100x - 10x)/100 = 720`

⇒ `(90x)/100 = 720`

⇒ `x = (100 xx 720)/90`

⇒ x = Rs. 800

Hence, the markets price on the article is Rs. 800