Question
A seller marked his article 60% above the cost price and sold it after offering two successive discounts of 50% and 30% respectively. In the whole transaction the seller lost Rs. 616. 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. 1.6x Selling price of the article = 0.5 × 0.7 × 1.6x = Rs. 0.56x According to the question, (x – 0.56x) = 616 Or, 0.44x = 616 Or, x = 1400 Therefore, selling price of the article = 1400 – 616 = Rs. 784
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