Question
A seller marked an article 60% above its cost price and sold it after allowing 20% discount. If he made a profit of Rs. 56, then find the difference between selling price and marked price of the article.
Solution
Let the cost price of the article be Rs. ‘2x’
So, marked price of the article = 2x × 1.6 = Rs. ‘3.2x’
Selling price of the article = 3.2x × 0.8 = Rs. ‘2.56x’
Profit = 2.56x – 2x = Rs. ‘0.56x’
ATQ; 0.56x = 56
⇒ x = 100
Marked Price = 100 × 3.2 = Rs. 320
Selling Price = 100 × 2.56 = Rs. 256
Required difference = 320 – 256 = Rs. 64
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