Question
An item is marked at (Y + 10)% above its cost price and
after allowing a discount of 40%, it is sold at 1% loss. What is the value of Y?Solution
Let the cost price = Rs. a
Then, marked price = (100 + Y + 10)% of a = (110 + Y)a/100
Selling price = (100 - 1)% of a = 0.99a
Also, selling price = (100 - 40)% of ((110 + Y)a/100) = 3/5 * ((110 + Y)a/100)
Then, 0.99a = 3/5 * ((110 + Y)a/100)
110 + Y = 165
Y = 55
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