Question
A shopkeeper marked an article P% above its cost price and sold it for Rs. 730 after giving a discount of 25%. If the shopkeeper had a loss of 10% on the whole transaction, then find the value of ‘P’. (approximate value)
Solution
Marked price of article = 730/0.75 = Rs. 973.333 Cost price of the article = 730/0.90 = Rs. 811.11 So, P = [(973.333 – 811.11)/811.11] × 100 = 20% (approx)
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