###### Advertisements

###### Advertisements

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.

###### Advertisements

#### 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.

#### APPEARS IN

#### RELATED QUESTIONS

A whole seller allows 25% trade discount and 5% cash discount. What will be the net price of an article marked at ₹ 1,600?

The true discount on a sum is `3/8` of the sum due at 12% p.a. Find the period of the bill.

True discount on a bill is ₹ 2,200 and bankers discount is ₹ 2,310. If the bill is due 10 months, hence, find the rate of interest.

A bill of ₹ 8,000 drawn on 5^{th} January 1998 for 8 months was discounted for ₹ 7,680 on a certain date. Find the date on which it was discounted at 10% p.a.

A bill drawn on 5^{th} June for 6 months was discounted at the rate of 5% p.a. on 19^{th} October. If the cash value of the bill is ₹ 43,500, find face value of the bill.

When only one discount is given, then ______

Trade discount is allowed on the _______ price.

**State whether the following statement is True or False.**

Trade discount is allowed on catalogue price.

**State whether the following statement is True or False.**

The banker’s discount is always lower than the true discount.

**State whether the following statement is True or False.**

In general cash discount is more than trade discount.

A merchant buys some mixers at 15% discount on catalogue price. The catalogue price is ₹ 5,500 per piece of a mixer. The freight charges amount to `2 1/2` % on the catalogue price. The merchant sells each mixer at 5% discount on catalogue price. His net profit is ₹ 41,250. Find a number of mixers.

A bill was drawn on 14^{th} April 2005 for ₹ 3,500 and was discounted on 6^{th} July 2005 at 5% per annum. The banker paid ₹ 3,465 for the bill. Find the period of the bill.

A manufacturer makes clear profit of 30% on cost after allowing 35% discount. If the cost of production rises by 20%, by what percentage should he reduce the rate of discount so as to make the same rate of profit keeping his list prices unaltered.

**Choose the correct alternative:**

If A bill of ₹ 6,395 drawn on 15th February 2015 for 10 months was discounted on 28th May 2015 at 8% p.a. interest, then legal due date is ______

**Choose the correct alternative:**

The date on which the period of the bill expires is called ______

**Choose the correct alternative:**

The marked price is also called as ______

**State whether the following statement is True or False: **

A person can get both, trade discount and cash discount

**State whether the following statement is True or False: **

The sum due is also called as Cash value

**State whether the following statement is True or False: **

If only one discount is given then List price = Invoice price

Find the true discount Banker’s discount and Banker’s gain on a bill of ₹ 4,240 due 6 months hence at 9% p.a.

Swastik Distributers allows 15% discount on the list price of washing machine. Further 5% discount is given for cash payment. Find the list price of the washing machine if it was sold for the net amount of ₹ 38,356.25

A bill of ₹ 65,700 drawn on July 10 for 6 months was discounted for ₹ 65,160 at 5% p.a. on what day was the bill discounted?

A bill was drawn on 14th April for ₹ 7,000 and was discounted on 6th July at 5% p.a. The Banker paid ₹ 6,930 for the bill. What is the legal due date

A bill of ₹ 51,000 was drawn on 18^{th} February 2010 for 9 months. It was encashed on 28^{th} June 2010 at 5% p.a. Calculate the banker’s gain and true discount

A wholesaler allows a 25% trade discount and a 5% cash discount. The net price of an article marked at ₹ 1,600 is ______.

The difference between true discount and banker's discount on a bill due 6 months hence at 4% is ₹ 160. Calculate true discount, banker's discount and amount of bill.