Question 51
A shopkeeper organizes sale on Friday, offering a discount of 23% on all items. Still, he makes a profit of 10% only. By how much percentage CP was lower than MP?
Solution
Let the marked price be Rs.100x
Discount = 23% of Rs.100x = Rs.23x
Selling Price = Rs.100x - Rs.23x = Rs.77x
Profit = 10%
Then, Cost Price = $$77x \times \dfrac{100}{110} = Rs.70$$
Therefore, Cost Price is less than Marked Price by $$\dfrac{100-70}{100}\times100 = 30$$%
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