Question
A merchant offers a 20% discount to his customers on the
marked price of a product. He still manages to make a profit of 60%. If the profit earned is Rs. 1,800, what is the marked price (in Rs.) of the product?Solution
ATQ,
Let the cost price of the product be Rs. '100x'
ATQ:
'100x' × 0.6 = 1,800
Or, 60x = 1,800
Or, x = (1800/60) = 30
So, the cost price of the product = 100x = 100 × 30 = Rs. 3,000
So, the selling price of the product = 3,000 + 1,800 = Rs. 4,800
Required marked price of the product = 4800 ÷ 0.8 = Rs. 6,000
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