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Question
A shopkeeper allows 20% discount on his article. What price must he mark on an article, which costs him Rs.1750, to make a profit of 20%?
Solution
C.P. = Rs.1750, discount = 20%, profit % = 20%
profit % = `"profit"/"C.P." xx 100`
⇒ 20 = `"profit"/(1750) xx 100`
⇒ profit = `(20 xx 1750)/(100)`
⇒ profit = Rs.350
S.P. = Rs.1750 + Rs.350
= Rs.2100
S.P. = `(1 - "d"/100)` of M.P.
⇒ 2100 = `(80)/(100) xx "M.P."`
⇒ `(2100 xx 100)/(80)` = M.P.
⇒ M.P. = Rs.2625
Hence, the price he should mark the article at is Rs.2625.
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