Question
The ratio of the cost price and selling price of a
product is 3:2. If the product was marked up by 50% and later a discount of Rs. 500 was applied, determine the marked price of the product.Solution
ATQ; Let the cost price and selling price be Rs. 3x and Rs. 2x, respectively. According to the given conditions, 1.5 × 3x = 2x + 500 4.5x – 2x = 500 2.5x = 500x = 500/2.5 = 200 Therefore, the marked price of the product = 1.5 × 3x = 4.5x = Rs. 900
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