A shopkeeper allows 23% commision on his advertised price and still makes a profit of 10%. If he gains Rs 56 on one item, find his advertised price.

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Solution

$Let t h e CP o f t h e i t e m be Rs . x . Profit = 10 % SP = CP (\frac{100 + Profit %}{100}) SP = x (\frac{110}{100}) SP = Rs . 1.1 x A g a i n, Profit = SP - CP T h e r e f o r e, Profit = Rs . (1.1 x - x) = Rs . 0.1 x We get, 0.1 x = 56 x = Rs . 560 Now, t h e advertise d price = \frac{1.1 x}{1 - 0.23} = Rs . \frac{560 \times 1.1}{0.77} = Rs . 800 T h e r e f o r e, t h e a d v e r t i s e d p r i c e o f t h e i t e m i s R s . 800 .$

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A shopkeeper allows 23% commision on his advertised price and still makes a profit of 10%. If he gains Rs 56 on one item, find his advertised price.

Let the CP of the item be Rs. x.Profit=10%SP=CP100+Profit%100SP=x110100SP=Rs.1.1xAgain, Profit=SP-CPTherefore, Profit=Rs. (1.1x-x)=Rs. 0.1xWe get,0.1x=56x=Rs. 560Now, the advertised price =1.1x1-0.23=Rs.560×1.10.77=Rs. 800Therefore, the advertised price of the item is Rs. 800.