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Ques-How to take out Mark Price and discount if only CP is given or only SP is given.
Discounts are offered on the marked price and the selling price is determined by the discount offered on the marked price. For the process of simplification, let us assume:
C = Cost price
S = Selling price
M = Market price
D% = Discount
G% = Gain
Now,
Discount = D% of marked price, M
Discount = Marked Price – Selling Price
Marked Price – Amount of Discount = Selling Price
M (1-D%) = Selling Price
Also, Selling Price = Cost Price + Gain
Thus,
M (1-D%) = C (1 + G%)
Or in other words
Marked Price (1 – Discount%) = Cost Price (1 + Gain%)
Example-1: Natasha offers her customers a discount of 10% on her beauty products and she still makes a profit of 20%. What is the actual cost to her of that beauty product marked Rs. 400?
Solution:
Marked price = Rs. 400
Discount = 10%
Profit = 20%
Therefore, the Selling Price = 90% of 400
Therefore 400 x 90/100 = Rs. 360
Selling price = Rs. 360
Profit = 20%
Cost price = 100/120 x 360 = Rs. 300
I think it will help you a lot to understand these concepts.