Question

what price should a shopkeeper mark a jacket that cost him Rs 1600 to earn a profit of 20% even after allowing a discount of 20%?

Answer 1

$$\begin{gathered} \mathrm{Hi}, \\ \mathrm{CP}=1600\mathrm{and}\mathrm{profit}=20\% \\ \mathrm{So}\mathrm{SP}=\mathrm{CP}+20\%\mathrm{of}\mathrm{CP}\hspace{0.17em}=\frac{120}{100}\times 1600=1920 \\ \mathrm{Now}\mathrm{discount}\mathrm{offered}\mathrm{is}=20\%\mathrm{so} \\ \mathrm{SP}\hspace{0.17em}=\mathrm{MP}-20\%\mathrm{of}\mathrm{MP}\hspace{0.17em} \\ \mathrm{SP}\hspace{0.17em}=\frac{80}{100}\mathrm{MP} \\ \mathrm{MP}\hspace{0.17em}=\frac{100}{80}\times \mathrm{SP}=\frac{100\times 1920}{80}=2400 \\ \mathrm{So}\mathrm{MP}=2400\mathrm{so}\mathrm{mark}\mathrm{up}\mathrm{value}=\mathrm{MP}-\mathrm{CP}=2400-1600=800 \\ \mathrm{Regards} \end{gathered}$$