A seller priced a bag of rice 50% higher than its cost price and later sold it after applying a 20% discount. If the profit made by the seller was Rs. 40, determine the difference between the selling price and the marked price of the rice bag.
ATQ, Let the cost price of the Rice bag be Rs. ‘2a’ So, marked price of the Rice bag = 2a × 1.5 = Rs. ‘3a’ Selling price of the Rice bag = 3a × 0.8 = Rs. ‘2.4a’ Profit = 2.4a – 2x = Rs. ‘0.4a’ ATQ; 0.4a = 40 Or, a = 100 So, marked price of the Rice bag = 100 × 3 = Rs.300 Selling price of the Rice bag = 100 × 2.4 = Rs.240 Required difference = 300 – 240 = Rs.60
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