Question
The ratio of cost price and selling price of a shirt is
7:8 respectively. The shirt was marked up by 20% above its cost price, and sold after giving Rs.40 discount. Find the cost price of the shirt.Solution
Let the Cost price and Selling price of the shirt be Rs. 7x and 8x respectively. According to the question, => 1.2 × 7x – 40 = 8x => x = 40/0.4 = 100 Therefore the cost price of the shirt = 7x = Rs.700
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