Question
A shopkeeper marks up an item by 25%. If he
increases the discount from 7% to 9%, the profit will decrease by Rs. 45. Find the selling price of the item in order to earn a profit of 23%.Solution
Let, cost price of item be Rs. x.
So, mark price = Rs. 1.25x
According to question,
1.25x [0.93 – 0.91] = 45
1.25x = 2250
x = 1800
Therefore, required selling price = 1800 × 1.23 = Rs. 2214
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