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Question
By selling a pair of earings at a discount of 25% on the marked price, a jeweller makes a profit of 16%. If the profit is Rs 48, what is the cost price? What is the marked price and the price at which the pair was eventually bought?
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Solution
\[\text { Let the cost price of the pair of earrings be Rs . x } . \]
\[\text { Profit = 16 % } \]
\[\text { Therefore, SP } = \left( \frac{\text { Profit % }+ 100}{100} \right) \times CP\]
\[ = \left( \frac{16 + 100}{100} \right)x\]
\[ = Rs . \frac{116x}{100}\]
\[SP - CP = 48\]
\[ \Rightarrow \frac{116x}{100} - x = 48\]
\[ \Rightarrow 16x = 4800\]
\[ \Rightarrow x = Rs . 300\]
\[SP = \frac{116x}{100} = Rs . 348\]
\[MP = \frac{100 \times SP}{100 -\text { Discount % }}\]
\[ = \frac{34800}{75} = Rs . 464\]
\[\text { Thus, CP of the pair of earrings = Rs . x = Rs } . 300\]
\[\text { SP of the pair of earrings = Rs } . 348\]
\[\text { MP of the pair of earrings = Rs } . 464\]
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