Question
Download Solution PDFA shopkeeper gives a discount of 4% on the marked price ' If the purchase price of an article is 120 and the shopkeeper is to make a profit of 10%, how much should he mark the article?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Discount percentage = 4%
Purchase price (Cost Price) = ₹120
Profit percentage = 10%
Formula Used:
Selling Price (SP) = Cost Price (CP) + Profit
Profit = Profit percentage × Cost Price
Selling Price (SP) = Marked Price (MP) - Discount
Discount = Discount percentage × Marked Price
Calculation:
Profit = 10% × ₹120 = (10 / 100) × 120 = ₹12
Selling Price (SP) = Cost Price (CP) + Profit = ₹120 + ₹12 = ₹132
Discount = 4% × MP = (4 / 100) × MP = 0.04 × MP
Selling Price (SP) = Marked Price (MP) - Discount
\(\Rightarrow\) ₹132 = MP - 0.04 × MP
\(\Rightarrow\) ₹132 = MP (1 - 0.04)
\(\Rightarrow\) ₹132 = 0.96 × MP
\(\Rightarrow\) MP = ₹132 / 0.96
\(\Rightarrow\) MP = ₹137.5
The shopkeeper should mark the article at ₹137.5.
Last updated on May 26, 2025
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