Question
A shopkeeper marked an article 80% above its cost price
and made a profit of Rs. 416 when he sold the article after giving a discount of 30%. Find the profit percent earned by the shopkeeper if he had sold the article for Rs. 2320.Solution
Let cost price of the article is Rs. ‘x’ So, Selling price of the article = 0.7 × 1.8 × x = Rs. 1.26x According to question; ⇒ 1.26x – x = 416 ⇒ 0.26x = 416 ⇒ x = 1600 Desired Percentage = [(2320 – 1600)/1600] × 100 = 45%
The abnormal loss is debited to following accounts:Â
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