Question
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.Solution
ATQ, Let the cost price of the Rice bag be Rs. β2aβ So, marked price of the Rice bag = 2a Γ 1.5 = Rs. β3aβ Selling price of the Rice bag = 3a Γ 0.8 = Rs. β2.4aβ Profit = 2.4a β 2x = Rs. β0.4aβ ATQ; 0.4a = 40 Or, a = 100 So, marked price of the Rice bag = 100 Γ 3 = Rs.300 Selling price of the Rice bag = 100 Γ 2.4 = Rs.240 Required difference = 300 β 240 = Rs.60
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