A shopkeeper marked an article 40% above its cost price and allowed a discount of 20%. Had he marked the article 50% above its cost price and allowed a discount of 12%, the selling price would have been Rs. 90 more than the earlier selling price. Find 130% of the cost price.
Question
A shopkeeper marked an article 40% above its cost price and allowed a discount of 20%. Had he marked the article 50% above its cost price and allowed a discount of 12%, the selling price would have been Rs. 90 more than the earlier selling price. Find 130% of the cost price.
Solution
Let's solve the problem step by step:
-
Let's assume the cost price of the article is "x" rupees.
-
The shopkeeper marked the article 40% above its cost price, so the selling price would be 1.4x rupees.
-
The shopkeeper allowed a discount of 20%, so the final selling price would be 0.8 * 1.4x = 1.12x rupees.
-
Now, let's consider the second scenario where the shopkeeper marks the article 50% above its cost price. The selling price would be 1.5x rupees.
-
The shopkeeper allows a discount of 12%, so the final selling price would be 0.88 * 1.5x = 1.32x rupees.
-
According to the problem, the second selling price is Rs. 90 more than the first selling price. So, we can set up the equation: 1.32x - 1.12x = 90.
-
Solving the equation, we find that 0.2x = 90, which implies x = 450.
-
Finally, we need to find 130% of the cost price, which is 1.3 * 450 = 585 rupees.
Therefore, 130% of the cost price is Rs. 585.
Similar Questions
A shopkeeper marked up an article 50% above its cost price and allowed a discount of 16%. If shopkeeper received a profit of Rs 624, then find the profit percentage when shopkeeper sold the article at Rs 2880.
A shopkeeper marked an article 48% above the cost price and sold it after giving a discount of 25%. Had he sold the article without giving any discount then he would have earned a profit of 168. Find the original selling price of the article.
Cost price of an article is Rs.100 and discount given on the article is Rs.4 more than the profit earned on it. If ratio of selling price to marked price of the article is 41 : 50 then find the discount offered
A shopkeeper marked up the price of an article by 40% above cost price and he allows 25% discount on marked price. If shopkeeper earns Rs. 420 as profit, then find his profit (in Rs.) when he allows discount of 20% instead of 25%?
The ratio of marked price to selling price of an article is 5 : 3 and shopkeeper gets a profit of 40%. If shopkeeper sells the article at its marked price, then the difference between cost price and marked price of article is Rs. 400. Find the cost price of the article?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.