An article costs Rs. 500 and the marked price is mentioned as Rs. 800. What is the profit % for the seller if he sells and offers a discount of 10% on the marked price?
Question
An article costs Rs. 500 and the marked price is mentioned as Rs. 800. What is the profit % for the seller if he sells and offers a discount of 10% on the marked price?
Solution
Sure, let's solve this step by step:
Step 1: Calculate the selling price after discount The marked price of the article is Rs. 800. The seller offers a discount of 10% on the marked price. So, the selling price after discount would be 90% of the marked price.
Selling Price = 90/100 * 800 = Rs. 720
Step 2: Calculate the profit The cost price of the article is Rs. 500 and the selling price (after discount) is Rs. 720. So, the profit made by the seller is the difference between the selling price and the cost price.
Profit = Selling Price - Cost Price = 720 - 500 = Rs. 220
Step 3: Calculate the profit percentage The profit percentage is calculated as (Profit/Cost Price)*100.
Profit % = (220/500)*100 = 44%
So, the profit percentage for the seller is 44%.
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