Question
A trader marks his goods 50% above the cost price. During a sale, he allows a discount of 20% on the marked price and still makes a profit of Rs 240 on each article. Find the cost price, marked price and selling price of the article.
Solution
ATQ, Let cost price = C. Marked price = 1.5C Discount 20% ⇒ Selling price S = 1.5C × 0.8 = 1.2C Profit = S − C = 0.2C Given 0.2C = 240 ⇒ C = 240 / 0.2 = 1200 Marked price = 1.5 × 1200 = Rs 1800 Selling price = 1.2 × 1200 = Rs 1440.
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