Question
A seller marked his article 65% above the cost price and sold it after offering two successive discounts of 60% and 25% respectively. In the whole transaction the seller lost Rs. 707. Find the selling price of the article.
Solution
Let the cost price of the article be Rs. x Therefore, marked price of the article = Rs. 1.65x Selling price of the article = 0.4 × 0.75 × 1.65x = Rs. 0.495x According to the question, (x – 0.495x) = 707 Or, 0.505x = 707 Or, x = 1400 Therefore, selling price of the article = 1400 – 707 = Rs. 693
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