Question
A shopkeeper marks up an item by 25%. If he
increases the discount from 15% to 20%, the profit will decrease by Rs. 80. Find the selling price of the item in order to earn a profit of 40%.Solution
Let, cost price of item be Rs. x.
So, mark price = Rs. 1.25x
According to question,
1.25x [0.85 – 0.80] = 80
1.25x = 1600
x = 1280
Therefore, required selling price = 1280 × 1.4 = Rs. 1792
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