(The question is from the chapter DISCOUNTS AND BILLS OF EXCHANGE) A shopkeeper buys an article for Rs 400 and - Maths - Relations and Functions

Question

(The question is from the chapter DISCOUNTS AND BILLS OF
EXCHANGE)
A shopkeeper buys an article for Rs 400 and marks it for sale at
a price that gives him a 80% profit on his cost He however gives
15% discount on the marked price to his customer Calculate (1)the
marked price of the article (2)discount in rupees given to the
customer (3) the actual profit % ,made by the shopkeeper

Aakash Sharma · Accepted Answer

Given: Shopkeeper buys an article for Rs 400 â‡’Cost Price (C P ) = Rs 400 and marked price (M P ) = C P + 80% of C P $= 400 + \frac{80}{100} \times 400 = 400 + 320 = Rs 720$ Now he gets 15% discount on M P $\Rightarrow Discount = \frac{15}{100} \times 720 = Rs 108$ âˆ´ Selling price (S P ) = M P â€“ Discount = 720 â€“ 108 = Rs 612 $Thus profit % = \frac{Profit}{C P} \times 100 = \frac{S P - C P}{C P} \times 100 = \frac{612 - 400}{400} \times 100 = \frac{212}{4} = 53 %$ Hence, M P = Rs 720, Discount = Rs 108 and Profit = 53%