Question

A dealer bought a refrigerator for $ 11515. After allowing a discount of 16% on its marked price, he gains 20%. Find the marked price of the refrigerator.​

Answer 1

Given:

Cost price of refrigerator = $11515

Discount rate 16% on its marked price.

Profit = 20%

To find:

The marked price of the refrigerator.​

Solution:

The cost price (C.P.) is $11515 and the profit percent is 20%. So, the selling price is:

`S.P.=C.P.+20\%\text{ of }C.P.`

`S.P.=11515+(20)/(100)(11515)`

`S.P.=11515+2303`

`S.P.=13818`

Let x be the marked price of the refrigerator.​ Then,

`S.P.=x-16\%\text{ of }x`

`13818=x-(16)/(100)x`

`13818=x-0.16x`

`13818=0.84x`

Divide both sides by 0.84.

`(13818)/(0.84)=x`

`16450=x`

Therefore, the marked price of the refrigerator is $16450.