Question
A shopkeeper marks up an item by 25%. If he
increases the discount from 23% to 27%, the profit will decrease by Rs. 60. Find the selling price of the item in order to earn a profit of 20%.Solution
Let, cost price of item be Rs. x.
So, mark price = Rs. 1.25x
According to question,
1.25x [0.77 – 0.73] = 60
1.25x = 1500
x = 1200
Therefore, required selling price = 1200 × 1.20 = Rs. 1440
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