Question
Download Solution PDFThe cost price of a table is ₹ 6,400. A businessman wants to earn 25% profit by selling it. At the time of sale, he announces a discount of 20% on the marked price. What is the marked price?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost Price (CP) = ₹6,400
Profit Percentage = 25%
Discount Percentage = 20%
Formula used:
1. Selling Price (SP) = CP × (1 + Profit Percentage / 100)
2. Marked Price (MP) = SP / (1 - Discount Percentage / 100)
Calculations:
1. SP = 6400 × (1 + 25 / 100)
⇒ SP = 6400 × 1.25
⇒ SP = 8000
2. MP = 8000 / (1 - 20 / 100)
⇒ MP = 8000 / 0.80
⇒ MP = 10000
∴ The correct answer is option (3).
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