Question
A wholesaler marked up the price of an air conditioner
(AC) by 20% above the cost price and sold it for Rs. 650. The profit made from the sale was 10% of the selling price. Determine the marked price of the AC.Solution
ATQ; Selling price of a product = Rs. 650 Profit earned = 0.1 X 650 = Rs. 65 So, cost price of the article = 650 - 65 = Rs. 585 Required marked price = Rs. (1.2 X 585) = Rs. 702 Hence, option b.
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