Question

The marked price of

b) The price of an electric fan is fixed 20% above its cost price. When it is sold allowing
18% discount, there is a loss of Rs 20. Calculate the marked price and the selling price
of the fan.
min of​

Answer 1

MP = Rs. 1500

SP = Rs. 1230

Explanation:

Let the Cost Price (CP) be x

Then Market Price (MP):

• MP = x+ 20% = 1.2x

Discounted Selling Price (SP):

• SP = MP - 18% = 0.82*1.2x = 0.984x

Since the difference between CP and SP is Rs.20:

• x - 0.984x = 20
• 0.016x = 20
• x= 20/0.016
• x = 1250

Then:

• MP = 1.2*1250= Rs. 1500

and

• SP = 1500*0.82 = Rs. 1230