Question
A trader marked an article 40% above its cost price and sold it after allowing a discount of 20%. If the transaction resulted in a profit of Rs. 30, then find the cost price of the article
Solution
Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.40 = Rs. ‘1.4x’ Selling price of the article = 1.4x × 0.8 = Rs. ‘1.12x’ Profit = 1.12x – x = Rs. ‘0.12x’ ATQ; 0.12x = 30 So, x = 250 Therefore, cost price of the article is Rs. 250.
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