Question

A shop keeper buys an article for $Rs.500$. He marks it at $20$% above the cost price. If he sells it at $12$% discount, find the selling price

Answer 1

Cost price $=Rs.500$
$profit=20$% of $Rs.500=\frac{20}{100}\times 500=Rs.100$;
marked price $=$ cost price $+profit=Rs.500+Rs.100=Rs.600$.
Now the discount given is $12$%.
For $Rs.600$, the discount $=\frac{12}{100}\times 600=72$ rupees.
Therefore, selling price $=$ cost price $-discount=Rs.600-Rs.72=Rs.528$.
Hence the selling price of the article is $Rs.528$.