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Question

A shopkeeper allows a discount of 20% on the Marked price of an article at sells at rupees 896.
1) calculate the Marked price of an article.
2) by selling an article at a discounted price if he still gets 12% of his cost what was the cost price.
3) what would have been his profit percentage if you had sold the article at the marked price.

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Solution

(1)let the market price X
discount on market price = 20%
So discount =( X×20)/100
= 20X/100
selling price = market price - discount
= X-(20X/100)
=80X/100
according to question:-
80X/100 = 896
X= = 89600/80
X =1120 ₹. -ans

(2)896= 112% of cost price
cp = 89600/112=800 Rs

(3) if he had sold it for marked price 1120 rs then profit= 1120-800=320rs
hence profit % = 320/800*100=40%

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