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Question
An article is marked at ₹ 800, a trader allows a discount of 2.5% and gains 20% on the cost. Find the cost price of the article.
Solution
Article is marked at ₹ 800.
Discount at 2.5% on ₹ 800 = `800 xx 2.5/100` =
₹ 20
∴ Selling price = Marked price – Discount
= 800 - 20 = ₹ 780
Trader gains 20% profit on cost.
∴ If the cost price is ₹ 100, then selling price will
₹ 120.
We need to find cost, for selling price = 780
Cost price will be
100 → 120
? → 780
∴ Cost price = `(780 xx 100)/120` = 650
∴ The cost of the article is ₹ 650.
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