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Question
What price should a shopkeeper mark on an article that costs him Rs 600 to gain 20%, after allowing a discount of 10%
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Solution
Given, the cost price of an article = Rs. 600
Also, the gain percentage = 20%
And discount allowed = 10%
We need to find out the marked price of the article.
⇒ Now, we know that gain = `("Gain"% xx "Cost price")/100`
∴ Gain = `(20 xx 600)/100` = Rs. 120
⇒ Now, we know that Selling Price = Gain + Cost Price
∴ SP = 120 + 600 = Rs. 720
Let marked price = Rs. x
Since, a discount of 10% is allowed.
⇒ x – 10% of x = Rs. 720
⇒ `x - ((10 xx x)/100) = 720`
⇒ `(100x - 10x)/100 = 720`
⇒ `(90x)/100 = 720`
⇒ `x = (100 xx 720)/90`
⇒ x = Rs. 800
Hence, the markets price on the article is Rs. 800
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