An article is marked up by Rs. X and the cost price of the article is Rs. 28000. If discount of Rs. is given and he gets a profit of 12.5%, then find X/2.
Question
An article is marked up by Rs. X and the cost price of the article is Rs. 28000. If a discount of Rs. is given and he gets a profit of 12.5%, then find .
Solution
Sure, let's solve the problem step by step.
Step 1: Let's assume the markup amount is Rs. X.
Step 2: The cost price of the article is given as Rs. 28000.
Step 3: A discount of Rs. is given. We need the value of the discount to proceed with the calculation.
Step 4: After applying the discount, the selling price of the article can be calculated using the formula:
Selling Price = Cost Price - Discount
Step 5: We are given that the selling price results in a profit of 12.5%. To calculate the selling price, we can use the formula:
Selling Price = Cost Price + Profit
Step 6: Now, we can equate the two formulas for the selling price:
Cost Price - Discount = Cost Price + Profit
Step 7: Simplifying the equation, we get:
-Discount = Profit
Step 8: We know that profit is calculated as a percentage of the cost price. In this case, the profit is 12.5% of the cost price. So, we can write:
Profit = 12.5% of Cost Price
Step 9: Converting the percentage to a decimal, we have:
Profit = 0.125 * Cost Price
Step 10: Substituting the given cost price of Rs. 28000, we can calculate the profit:
Profit = 0.125 * 28000
Step 11: Calculating the profit, we find:
Profit = Rs. 3500
Step 12: Now, we can substitute the value of the profit into the equation from Step 7:
-Discount = Rs. 3500
Step 13: Solving for the discount, we find:
Discount = -Rs. 3500
Step 14: Since the discount is given as a negative value, it means that the article is marked up by Rs. X.
Step 15: We need to find X/2. Since X is the markup amount, we can calculate X/2 as:
X/2 = (Markup Amount)/2
Step 16: Substituting the value of the markup amount, we have:
X/2 = (Rs. X)/2
Therefore, X/2 is equal to Rs. X/2.
Please note that the value of X is not provided in the given information, so we cannot calculate the exact value of X/2.
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