Question
The cost price of a mobile phone is equal to the simple
interest on Rs. 5600 for 5 years at 5% per annum. The mobile is sold at a profit of 40% after giving a discount of 30% on the marked price. Find the marked price of the mobile phone.Solution
ATQ, SI = (5600 Γ 5 Γ 5) / 100 = (5600 Γ 25) / 100 = 1400 So, Cost Price (CP) of the mobile = Rs.1400 Profit = 40% Selling Price (SP) = 1400 Γ 1.4 = Rs.1960 Discount = 30% SP = 70% of MP = 0.7 Γ MP MP = SP / 0.7 = 1960 / 0.7 = Rs.2800
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