A shopkeeper gives 25% discount on an article and makes a profit of 10%. If the cost price of the article is Rs 300 then, what is the marked price?
Question
A shopkeeper gives 25% discount on an article and makes a profit of 10%. If the cost price of the article is Rs 300 then, what is the marked price?
Solution
Step 1: First, we need to find the selling price of the article. Since the shopkeeper makes a profit of 10%, the selling price will be 110% of the cost price.
So, Selling Price = 110/100 * 300 = Rs 330
Step 2: Now, we know that the selling price is after a discount of 25% on the marked price. So, the selling price is 75% of the marked price.
Let's denote the marked price as 'x'. Therefore, we can set up the equation:
75/100 * x = 330
Step 3: Solve the equation for 'x' to find the marked price.
x = 330 / (75/100) = Rs 440
So, the marked price of the article is Rs 440.
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