Marked price an article is 20% above its cost price. it is sold for rs 1100 at 10% profit find its marked price

Question

asked Sep 15, 2023 228k views

1 Answer

Kiro · Answer 1 · 2023-09-22T08:34:59+0000

Hey there!

Marked price (MP) = 1100 + Cost price (CP) ----(1)

If the watch was sold at discount of 20%, profit = Rs. 400

⇒ Selling price = MP - 20% of MP = 0.8MP

Also, Selling price = CP + 400

⇒ CP + 400 = 0.8MP

Substituting from (1),

⇒ CP + 400 = 0.8(1100 + CP)

⇒ CP + 400 = 880 + 0.8CP

⇒ 0.2CP = 480

⇒ CP = Rs. 2400

∴ To earn a profit of 30%, Selling price = 2400 + 30% of 2400 = 2400 + 720 = Rs. 3120