Question
Article ‘P’, if sold at a profit of 20% earns a profit of Rs. 500. If article ‘P’ is marked 40% above its cost price and then sold after offering two successive discounts of 20% and Rs. x, respectively then what would be the value of ‘x’ such that there is neither profit nor loss in the transaction?
Solution
Let the cost price of article ‘P’ = Rs. 100y Then, according to the question, 20y = 500 Or, y = (500/20) = 25 So, cost price of article = Rs. 2500 Marked price of the article = 2500 × 1.4 = 3500 Price after 1st discount of 20% = 3500 × 0.8 = 2800 So, further discount be given = 2800 – 2500 = Rs. 300 Or, x = 300
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