Question

A jeweller allows a discount of 16% to his customers and still gains 20%. Find the marked price of a ring which costs the jeweller Rs 1190.

Answer 1

The cost price of the ring is $Rs1190$.
Gain percentage = 20%.
$$\begin{gathered} \therefore \mathrm{Selling}\mathrm{price\; =}\left\{\frac{(100+\hspace{0.17em}gain\%)}{100}\times C.P\right\} \\ =\left\{\frac{100+20}{100}\times 1190\right\} \\ =\frac{120}{100}\times 1190 \\ =\mathrm{Rs}1428 \end{gathered}$$

Let the marked price be $x$.
Discount = 16% of $Rsx$
$=\frac{16x}{100}$
SP = MP − Discount

$$\begin{gathered} \Rightarrow 1428=x-\frac{16x}{100} \\ \Rightarrow 1428=\frac{100x-16x}{100} \\ \Rightarrow 142800=84x \\ \Rightarrow \frac{142800}{84}=x \\ \Rightarrow x=1700 \end{gathered}$$

​Therefore, the marked price of the ring is $\mathrm{Rs}1700$.