Question

if an article is sold with 20% discount,there will be a profit of 15%.If it is sold at 10% discount, there will be a profit of Rs.200.Calculate the market price of an article

Answer 1

MP = Rs. 978.72

The market price of the article is Rs. 978.72

Explanation:

Let MP represents the market price.

Let SP represents the selling price.

Let CP represents the cost price.

if an article is sold with 20% discount then there will be a profit of 15%.

0.80MP = 1.15CP

0.80MP - 1.15CP = 0

If it is sold at 10% discount then there will be a profit of Rs.200

0.9MP - CP = 200

We are asked to find the market price of an article.

0.9MP - CP = 200

0.9MP×1.15 - 1.15CP = 200 ×1.15

1.035MP - 1.15CP = 230

But 1.15CP = 0.80MP

1.035MP - 0.80MP = 230

0.235MP = 230

MP = 230/0.235

MP = Rs. 978.72

Therefore, the market price of the article is Rs. 978.72