Question
What is marked price of the product? Statement I
β 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 β 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.Β ΒSolution
From Statement I: Let the CP and MP of be Rs β13xβ and β15xβ respectively. SP = 15x Γ 90/100 = 13.5x (13.5x β 13x) = 45 0.5x = 45 x = 90 Therefore, MP = Rs. 15x = 15 Γ 90 = Rs. 1350 From statement I alone we can find the mark price. Now, From Statement II: MP β CP = 30------(i) SP β MP = 16-------(ii) MP = 30% of CP MP = 3/10 CP Putting the value of MP in equation i), we get 3/10CP β CP = 30 -7CP = 30 CP = -30/7, Value cannot be in -ve. So, we cannot find the MP from statement II.
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