Question 70

A shopkeeper allows 10% discount on the marked price of an article and still makes a profit of 8%. If the marked price is ₹480, then what is the cost price (in ₹)of the article?

Solution

If the marked price is ₹480.

A shopkeeper allows 10% discount on the marked price of an article.

Selling price = 480 of (100-10)%

= 480 of 90%

= 432

profit = 8%

(100+8)% of Cost price = 432

108% of Cost price = 432

Cost price = $$\frac{432}{108}\times\ 100$$

= ₹400

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