Question
A trader marked an article 50% above its cost price and
sold it after allowing a discount of 20%. If the transaction resulted in a profit of Rs. 200, then find the cost price of the articleSolution
Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.50 = Rs. ‘1.5x’ Selling price of the article = 1.5x × 0.8 = Rs. ‘1.2x’ Profit = 1.2x – x = Rs. ‘0.2x’ ATQ; 0.02x = 200 So, x = 1000 Therefore, cost price of the article is Rs. 1000.
A business firm has the following details as of 31.03.2023 :
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