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Question 51
A shopkeeper marks the price of an article 25 % above its cost price. After allowing 10% discount on the market price, the article is sold for ₹720. What is the difference (in ₹) between the cost price and market price of the article?
Solution
Let the cost price be x
marked price=1.25x
Discount allowed=10%
MP-discount=SP
Therefore SP=0.9*1.25x
Given SP=720
(9/10)*(5/4)x=720
x=80*8
x=Rs 640
MP-CP=1.25x-x=0.25x
=640/4
=Rs 160
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