An article is marked at ₹ 800, a trader allows a discount of 2.5% and gains 20% on the cost. Find the cost price of the article. - Mathematics and Statistics

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Sum

An article is marked at ₹ 800, a trader allows a discount of 2.5% and gains 20% on the cost. Find the cost price of the article.

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Solution

Article is marked at ₹ 800.

Discount at 2.5% on ₹ 800 = `800 xx 2.5/100` =
₹ 20

∴ Selling price = Marked price – Discount

= 800 - 20 = ₹ 780

Trader gains 20% profit on cost.

∴ If the cost price is ₹ 100, then selling price will
₹ 120.

We need to find cost, for selling price = 780

Cost price will be

100  →  120

?  → 780

∴ Cost price = `(780 xx 100)/120` = 650

∴ The cost of the article is ₹ 650.

Concept: Discount
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Chapter 1: Commission, Brokerage and Discount - Miscellaneous Exercise 1 [Page 13]

APPEARS IN

Balbharati Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board
Chapter 1 Commission, Brokerage and Discount
Miscellaneous Exercise 1 | Q 4.06 | Page 13

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