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Question
A shopkeeper buys an article for ₹ 300. He increases its price by 20% and then gives 10% discount on the new price. Find:
(i) the new price (marked price) of the article.
(ii) the discount is given by the shopkeeper.
(iii) the selling price.
(iv) profit percent made by the shopkeeper.
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Solution
C.P. of an article = ₹ 300
Increase in price = 20%
(i) ∴ Marked price (M.P.)
`= ("C.P." xx (100 + "increase%"))/100`
`= ₹ (300(100 + 20))/100`
`= ₹ (300 xx 120)/100 = ₹ 360`
(ii) Rate of discount = 10%
Amount of discounts
`= ₹ (360 xx 10)/100 = ₹ 36`
(iii) Selling price = M.P. - discount
= ₹ 360 - 36 = ₹ 324
(iv) Net profit to the shopkeeper
= S.P. - C.P. = Rs. 324 - 300 = Rs. 24
Gain % = `("gain" xx 100)/"C.P." = (24 xx 100)/300 = 8%`
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