SSC CGL 2011 Question Paper Tier 1 - Shift 2 (June 26th)

Question 125

A shopkeeper allows 23% commission on his advertised price and still makes a profit of 10%. If he gains 56 on one item, his advertised price of the item is

Solution

Let , Advertised price of the item = ₹ N
∴ Commission on advertised price of the article = ₹ (N x 23)/100
Price after commission = N - (23N/100) = ₹ 77N/100
∴ CP of the item = [(77N/100) x 100]/(100 + 10) = 77N/110 = ₹ 7N/10
Profit = 77N/100 - 7N/10 = ₹ 7N/100
⇒ 56 = 7N/100
∴ N = (56 x 100)/7 = ₹ 800


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