An article is marked for sale at ₹275. The shopkeeper allows a discount of 5% on the Marked Price. His net profit is 4.5%.
How much did the shopkeeper pay for the article?
₹250
Given : MP = ₹ 275.
Discount% = 5%
Discount = 5100×275 = ₹13.75
SP = ₹275 - ₹13.75 = ₹261.25
Let the Cost Price be ₹ y
As per problem,
y + 4.5100× y = 261.25
⇒ 104.5100 y = 261.25
⇒ y = 261.25×100104.5
⇒ y = ₹250