Question 67

Adealer marks his goods 30%above his cost price and then allows 15% discount on it. What is the cost price of an article on which he gains Rs. 84 ?

Solution

Cost price (CP), Selling price (SP) , Marked price (MP), Profit (P)

Assume CP = 100

MP = $$ CP \times \frac{130}{100} = 100 \times \frac{130}{100} = 130 $$

SP = $$ MP \times \frac{100-15}{100} = 130 \times \frac{85}{100} = 110.5 $$

When CP = 100 gain,P= 110.5 - 100 = 10.5

But here gain = 84

then it must be equal to

10.5 = 84

$$ 1 = \frac{84}{10.5} =8 $$

Therefore CP = $$ 100 \times 8 = 800 $$

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