Attempt this Profit and Loss Question of 8 November 2021

Question of The Day08-11-2021

A shopkeeper marked his good 25% above selling price and offers the discount of ₹495 yet he get 10% profit. Find the cost price of the article.

Answer

Correct Answer : a ) ₹3300

Explanation :

According to the question

Let the cost price (CP) of article be 100x units

Shopkeeper marks his good 25% above CP

⇒ Marked price (MP) = 100x + 25% of 100x

⇒ MP = 125x units

Shopkeeper makes the profit of 10%

We know that

Selling price (SP) = Cost price(CP) + profit

SP = 100x + 10% of 100x

⇒ SP = 110x ……….(1)

Also,

Selling price = marked price – discount

⇒Selling price = 125 x – 495….(2)

Equating equation (1) and (2)

⇒125 x – 495 = 110x

⇒ 15x = 495

⇒ x = ₹ 33

Cost price of the Article = 100x

⇒ 100 * 33

⇒₹3300

Hence, (a) is the correct answer.

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