Question 75
A dealer marks an article 40% above the cost price and sells it to a customer, allowing two successive discounts of 20% and 25% on the marked price. If he suffers a loss of ₹ 140, then the cost price (in ₹) of the article is:
Solution
Let the cost price be x.
Marked price = x $$\times \frac{140}{100}$$ = 1.4x
Selling price = 1.4x $$\times \frac{80}{100} \times \frac{75}{100}$$ = 0.84x
Loss = 140
x - 0.84x = 140
0.16x = 140
x = Rs.875
$$\therefore$$ Cost price (in ₹) of the article is Rs.875.
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