Question
A shopkeeper marks an article 40% above its cost price
and then allows a discount of 10% on the marked price. If the selling price of the article is Rs 315, what is the cost price?Solution
Let cost price = Rs C Marked Price (MP) = C + 40% of C = 1.4C Discount = 10% of MP Selling Price (SP) = MP – 10% of MP = 90% of MP SP = 0.9 × 1.4C = 1.26C Given SP = 315 So, 1.26C = 315 1.26 = 126/100 C = 315 × 100 ÷ 126 = 315 × 50 ÷ 63 = (315 ÷ 63) × 50 = 5 × 50 = 250 So cost price = Rs 250
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