A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170?

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Solution

Given,

CP of the article = Rs 170

Profit = 20%

So, by using the formula,

Selling price = (100 + Gain %)/100 × CP (0.5 Mark)

= (100 + 20)/100 × 170

= 120/100 × 170

= 204

SP = Rs 204 (1 Mark)

Discount = 15%

By using the formula

MP = (100 × SP) / (100 – Discount %) (0.5 Mark)

= (100 × 204) / (100 – 15)

= (100 × 204) / 85

= 20400/85

= Rs 240 (1 Mark)

∴ Marked Price = Rs 240

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