Question
The amount by which the marked price is higher than the
selling price is 33% of the difference between the marked price and the cost price. If the item is sold at a 14% profit and the marked price is Rs. 960, calculate the cost price.Solution
ATQ,
Let the cost price be Rs. 100x
Selling price = 100x × 1.14 = Rs. 114x
ATQ,
(960 - 114x) = (960 - 100x) × 0.33
⇒ 960 - 114x = 316.8 - 33x
⇒ 960 - 316.8 = 114x - 33x
⇒ 643.2 = 81x
⇒ x = 7.94
Cost price = 100 × 7.94 = Rs. 794
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