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Question
A shopkeeper buys an article for ₹ 300. He increases its price by 20% and then gives 10% discount on the new price. Find:
(i) the new price (marked price) of the article.
(ii) the discount is given by the shopkeeper.
(iii) the selling price.
(iv) profit percent made by the shopkeeper.
Solution
C.P. of an article = ₹ 300
Increase in price = 20%
(i) ∴ Marked price (M.P.)
`= ("C.P." xx (100 + "increase%"))/100`
`= ₹ (300(100 + 20))/100`
`= ₹ (300 xx 120)/100 = ₹ 360`
(ii) Rate of discount = 10%
Amount of discounts
`= ₹ (360 xx 10)/100 = ₹ 36`
(iii) Selling price = M.P. - discount
= ₹ 360 - 36 = ₹ 324
(iv) Net profit to the shopkeeper
= S.P. - C.P. = Rs. 324 - 300 = Rs. 24
Gain % = `("gain" xx 100)/"C.P." = (24 xx 100)/300 = 8%`
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