Question

A dealer bought a refrigerator for $ 11515. After allowing a discount of 16% on its marked price, he gains 20%. Find the marked price of the refrigerator.​

Answer 1

Given:

Cost price of refrigerator = $11515

Discount rate 16% on its marked price.

Profit = 20%

To find:

The marked price of the refrigerator.​

Solution:

The cost price (C.P.) is $11515 and the profit percent is 20%. So, the selling price is:

$S.P.=C.P.+20\%\text{ of }C.P.$

$S.P.=11515+\dfrac{20}{100}(11515)$

$S.P.=11515+2303$

$S.P.=13818$

Let x be the marked price of the refrigerator.​ Then,

$S.P.=x-16\%\text{ of }x$

$13818=x-\dfrac{16}{100}x$

$13818=x-0.16x$

$13818=0.84x$

Divide both sides by 0.84.

$\dfrac{13818}{0.84}=x$

$16450=x$

Therefore, the marked price of the refrigerator is $16450.