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Question
A dealer marks his goods 45% above the cost price and then allows 20% discount on it. What is the cost price of an article on which he gains Rs.960?
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Solution
Let the C.P. be Rs.100
So, M.P. = C.P. + 45% odf C.P.
= `100 + (45/100 xx 100)`
= Rs.145
Discount
= 20% on M.P.
= `(20)/(100) xx 145`
= Rs.29
So, S.P. of the goods
= M.P. - Discount
= Rs.145 - Rs.29
= Rs.116
Profit
= S.P. - C.P.
= Rs.116 - Rs.100
= Rs.16
When the S.P. is Rs.116, the profit is Rs.16
So, when the gain is Rs.960,
the S.P. = `(116 xx 960)/(16)`
= Rs.6960
C.P. = S.P. - Profit
= Rs.6960 - Rs.960
= Rs.6000
Hence, the cost price of and article on which he gain Rs.960 is Rs.6000.
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