Question 136

A shopkeeper marks his goods 40% above the cost price. He allows a discount of 5% for cash payment to his customers. He receives 1064 after paying the discount. His profit is

Solution

Let cost price = $$100x$$

40% of cost price = $$\frac{40}{100} * 100x = 40x$$

=> Marked price = $$100x + 40x = 140x$$

Discounted amount = $$\frac{5}{100} * 140x = 7x$$

=> S.P. = $$140x - 7x$$ = 1064

=> $$x = \frac{1064}{133}$$ = 8

Now, cost price = 8*100 = 800 and selling price = 1064 [given]

=> Profit = 1064-800 = 264

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