Question 117
The shopkeeper marked an article 30% above the cost price and sold it a discount of 20%. If he made a profit of Rs. 60. Find the cost price of the article.
Solution
Let the cost price be c.
The marked price of the article will be 1.3c
If a discount of 10% is offered the selling price will be 1.3c * (0.8) = 1.04c
Profit = 0.04c = 60
C = 1500
Hence, the cost price is Rs. 1500
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