Question

An article is marked at Rs. 1500. A trader allows a discount at 3% and still gains 20% on the cost. Find the cost price of the article.

Answer 1

Given List price = Rs. 1500.

Discount at 3% = `1500 xx 3/100` = Rs. 45

Selling price = 1500 - 45 = Rs. 1455
If the cost price is Rs. 100, then the selling price is Rs. 120.

∴ The cost price for selling price Rs. 1455. = `1455 xx 100/120 = Rs. 1212.50`