What is marked price of the product?

Statement I – After giving the 10% discount on mark price the shopkeeper make a profit of Rs. 45 by selling the item. Ratio of cost price and mark price is 13:15.

Statement II – Difference of mark price and cost price is 30. Difference of selling price and marked price is 16. Marked price is 30% of the cost price.  

Solution

From Statement I: Let the CP and MP of be Rs “13x” and “15x” respectively. SP = 15x × 90/100 = 13.5x (13.5x – 13x) = 45 0.5x = 45 x = 90 Therefore, MP = Rs. 15x = 15 × 90 = Rs. 1350 From statement I alone we can find the mark price. Now, From Statement II: MP – CP = 30------(i) SP – MP = 16-------(ii) MP = 30% of CP MP = 3/10 CP Putting the value of MP in equation i), we get 3/10CP – CP = 30 -7CP = 30 CP = -30/7, Value cannot be in -ve. So, we cannot find the MP from statement II.