Question
A person purchased an article for Rs. 2000 which was marked up by 25% above its cost price. The discount given by seller to person was Rs. 120. By how much more price, should the seller have sold to gain 40%?
Solution
Marked price of the article = 2000 + 120 = Rs. 2120 Cost price of the article= 2120/1.25 = Rs. 1696 Required selling price = 1.40 × 1696 = Rs. 2374.4 Required amount = 2374.4 – 2000 = Rs. 374.4
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