A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170?
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A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170?
A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170?
Given,
CP of the article = Rs 170
Profit = 20%
So, by using the formula,
Selling price = (100 + Gain %)/100 × CP
= (100 + 20)/100 × 170
= 120/100 × 170
= 204
SP = Rs 204
Discount = 15%
By using the formula
MP = (100 × SP) / (100 – Discount %)
= (100 × 204) / (100 – 15)
= (100 × 204) / 85
= 20400/85
= Rs 240
∴ Marked Price = Rs 240.