Question
Download Solution PDFAn article with marked price of Rs. 5676 is sold at a discount of 40 percent. If 20 percent profit is earned, then what is the cost price of the article?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
An article with marked price of Rs. 5676 is sold at a discount of 40 percent. If 20 percent profit is earned, then what is the cost price of the article?
Formula used:
Selling Price (SP) = Marked Price (MP) × (1 - Discount%)
Cost Price (CP) = Selling Price (SP) / (1 + Profit%)
Calculation:
MP = 5676
Discount = 40%
Profit = 20%
SP = MP × (1 - Discount%)
⇒ SP = 5676 × (1 - 0.40)
⇒ SP = 5676 × 0.60
⇒ SP = 3405.6
CP = SP / (1 + Profit%)
⇒ CP = 3405.6 / (1 + 0.20)
⇒ CP = 3405.6 / 1.20
⇒ CP = 2838
∴ The correct answer is option (1).
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