<u>Given</u><u> info</u><u>:</u><u>-</u>
A shop keeper offers a discount of 20% on all the articles at his shop and all makes a profit of 12%.
What is the CP of an article whose MP is Rs. 280 ?
<u>Explanation</u><u>:</u><u>-</u>
Given that
The Marked Price of an article (M) = Rs. 280
Discount on it = 20%
<u>Discount (D) = MD/100</u>
⇛ Discount = (280×20)/100
⇛ Discount = 28×2
⇛ Discount =56
<u>Selling Price = Marked Price - Discount</u>
⇛ Selling Price = 280-56
⇛ Selling Price = Rs. 224
Selling Price of the article = 224
Profit on it = 12%
We know that
<u>Cost Price = (100×SP)/(100+g)</u>
⇛ CP = (100×224)/(100+12)
⇛ CP = 22400/112
⇛ CP = 200
Therefore, The CP = Rs. 200
The Cost Price of the article = Rs. 200.
<u>Formula</u><u>:</u><u>-</u>
M = Marked Price
- Selling Price = Marked Price - Discount
- Cost Price = (100×SP)/(100+g)
SP = Selling Price
g = gain or profit
