a shopkeeper marks the price of an article 40% above its cost price and gives the customer a discount of 15% so that he gains rs 76 on the article , find the marked price of the article
a shopkeeper marks the price of an article 40% above its cost price and gives the customer a discount of 15% so that he gains rs 76 on the article , find the marked price of the article
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Answer:
Let's assume cost price = X Rs
Since marked price is 40% above cost price.
∴MP=CP+40% of CP=X+
100
40X
=
5
7X
Rs
Discount =40%
∴SP=MP−Discount
⇒SP=
5
7X
−40% of
5
7X
⇒SP=
5
7X
−
100
40
×
5
7X
⇒SP=
5
7X
−
25
14X
=
25
21X
Here SP < CP, so there will be a loss.
∴Loss=CP−SP=X−
25
21X
=
25
4X
Rs
⇒Loss percentage=
CP
loss×100
=
X
25
4X
×100
=16%