Question
A vendor acquired a piece of clothing for Rs. ‘a’
and marked it 160% above its cost price, and sold it after giving two successive discounts of 900 and 30%, respectively, and realized a profit of Rs. 7a/10. Find the marked price of the clothing.Solution
Let Cost Price (CP) = Rs. a Marked Price (MP) after 160% markup = CP + 160% of CP = a + 1.6a = 2.6a Selling Price (SP) after both discounts = 2.6a – 900 – 0.30 * (2.6a – 900) = 1.82a – 630 According to the problem, Profit earned = Rs. 7a/10. Therefore, SP = CP + Profit = a + 7a/10 = 17a/10 Or, 1.82a – 630 = 17a/10 Or, 1.2a = 6400 Or, a = 5250 Therefore, Marked price = 260% * 5250 = Rs 13,650
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