A merchant marks his goods at Rs. 600 and allows a discount of 25%. If he still gains 11.11%, then the cost price of the article is:
Question
A merchant marks his goods at Rs. 600 and allows a discount of 25%. If he still gains 11.11%, then the cost price of the article is:
Solution
Step 1: Calculate the selling price after discount
The merchant allows a discount of 25% on the marked price of Rs. 600.
So, the discount amount = 25/100 * 600 = Rs. 150
Therefore, the selling price after discount = Marked price - Discount = 600 - 150 = Rs. 450
Step 2: Calculate the cost price
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