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Offer of the Shopkeeper: Buy 10 get 2 free = 12 articles Let the marked price of 1 article be Rs. 10 Marked Price of 12 articles = 10× 12 = 120 Selling Price of 10 articles = 10 × 10 = 100 Actual Selling Price of 10 articles (less discount) = 100 – 20 = 80 Profit % = 25 % ∴ Cost Price = 80 × 100/125 =64 Cost Price: Marked Price = 64: 120 = 8:15
Labour theory of value was propounded by
I. Adam Smith
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