Question 68

A shopkeeper wishes to give 5%commission on the marked price of an article but also wants to earn a profit of 10%. If his cost price is Rs. 95, then the marked price is

Solution

Cost price(CP) = 95

Selling price(SP) = $$ MP \times \frac{95}{100} $$

Profit = 10 %

$$ \frac{SP -CP}{CP} \times 100 = 10 % $$

Substituting,

$$ \frac{MP \times \frac{95}{100}}{95} = \frac{11}{10} $$

Solving, MP = 110

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