An article costs Rs.600.What should be the marked price of an article so that after 10% discount,the trader makes 20% profit?Rs.800Rs.950Rs.1100Rs.1040
Question
An article costs Rs.600.
What should be the marked price of an article so that after 10% discount, the trader makes 20% profit?
- Rs.800
- Rs.950
- Rs.1100
- Rs.1040
Solution
First, let's calculate the cost price of the article which is Rs. 600.
The trader wants to make a 20% profit on this. So, the selling price of the article should be:
Selling Price = Cost Price + Profit Selling Price = Rs. 600 + 20% of Rs. 600 Selling Price = Rs. 600 + Rs. 120 Selling Price = Rs. 720
Now, this selling price is after a 10% discount on the marked price. So, let's say the marked price is 'x'.
We know that: Selling Price = Marked Price - Discount Rs. 720 = x - 10% of x Rs. 720 = 0.9x
Solving for 'x', we get: x = Rs. 720 / 0.9 x = Rs. 800
So, the marked price of the article should be Rs. 800.
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