Question
Article ‘P’, if sold at a profit of 35% earns a
profit of Rs. 700. If article ‘P’ is marked 30% above its cost price and then sold after offering two successive discounts of 14% 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, 35y = 700 Or, y = (700/35) = 20 So, cost price of article = Rs. 2000 Marked price of the article = 2000 × 1.3 = 2600 Price after 1st discount of 14% = 2600 × 0.86 = 2236 So, further discount be given = 2236 – 2000 = Rs. 236 Or, x = 236
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