A shopkeeper marked an article P% above its cost price and sold it for Rs. 1200 after giving a discount of 20%. If the shopkeeper had a loss of 6.4% on the whole transaction, then find the value of ‘P’. (approximate value)
Marked price of article = 1200/0.80 = Rs. 1500 Cost price of the article = 1200/0.936 = Rs. 1282.05 So, P = [(1500 - 1282.05)/1282.05] × 100 = 17% (approx)
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