Question 7
Even after reducing the marked price of an item, by Rs. 32, a shopkeeper makes a profit of 15%. If the cost price is Rs. 320, what percentage of profit would he have made, if he had sold the item at the marked price?
Solution
Cost Price = 320 and he earned a profit of 15% which makes the Selling Price = 1.15*320 ==> 368.
This Selling Price is attained by giving a discount of 32 on the Marked Price which gives:
Marked Price = 368 + 32 = 400.
Profit earned after he sold it at Marked Price = $$\frac{400-320}{320\ }\times\ 100\ =\ 25\%$$.
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