a jeweller allows a discount of 16% to his customers & still gains 20% . find the MP of a ring which cost him RS1190.
Cost Price of a ring = Rs. 1190
Let Selling Price be Rs. x and the marked price be Rs. y.
Overall gain = 20%
Since, his gain is 20% on the cost price therefore,
S.P = C.P +20% of C.P
Therefore, selling price = Rs. 1428
Now, after giving a discount of 16% on the Marked Price, the Selling Price of the ring is Rs. 1428.
Therefore, we can write