Question
A shopkeeper marked an article P% above its cost price
and sold it for Rs. 1150 after giving a discount of 20%. If the shopkeeper had a loss of 8% on the whole transaction, then find the value of ‘P’. (approximate value)Solution
Marked price of article = 1150/0.80 = Rs. 1437.5 Cost price of the article = 1150/0.92 = Rs. 1250 So, P = [(1437.5 - 1250)/1250] × 100 = 15% (approx)
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