A dealer allows his customers a discount of 25% and still gains 25%. If an article costs ₹1600 to the dealer, then its marked price (nearest to one rupee) is:
₹2667
Understanding Dealer Pricing: Marked Price Calculation
This problem requires calculating the Marked Price (MP) of an article. We are given the Cost Price (CP), the discount percentage offered to the customer, and the profit percentage the dealer makes.
Key Formulas
- Selling Price (SP) = Cost Price (CP) × (1 + Profit Percentage)
- Selling Price (SP) = Marked Price (MP) × (1 - Discount Percentage)
Step-by-Step Calculation
1. Calculate the Selling Price (SP):
The dealer gains 25% on the cost price of ₹1600.
Using the formula: $SP = CP \times (1 + \text{Profit\%})$
$SP = ₹1600 \times \left(1 + \frac{25}{100}\right)$
$SP = ₹1600 \times (1 + 0.25)$
$SP = ₹1600 \times 1.25$
$SP = ₹2000$
2. Calculate the Marked Price (MP):
The dealer allows a 25% discount on the Marked Price (MP) to achieve the Selling Price (SP) of ₹2000.
Using the formula: $SP = MP \times (1 - \text{Discount\%})$
$₹2000 = MP \times \left(1 - \frac{25}{100}\right)$
$₹2000 = MP \times (1 - 0.25)$
$₹2000 = MP \times 0.75$
$MP = \frac{₹2000}{0.75}$
$MP = \frac{₹2000}{\frac{3}{4}}$
$MP = ₹2000 \times \frac{4}{3}$
$MP = \frac{₹8000}{3}$
$MP \approx ₹2666.67$
3. Round to the Nearest Rupee:
The question asks for the marked price nearest to one rupee.
Rounding ₹2666.67 to the nearest rupee gives ₹2667.
Conclusion
The marked price of the article is approximately ₹2666.67, which rounds to ₹2667.
Similar Questions
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Important Questions from Profit and Loss
A man buy two watches at Rs.4000. He sold one watch at 20% profit and second at 10% loss. In this transaction the overall profit or loss will be 5%.Find the cost price of first watch.
An article when sold at a discount of Rs. 100, the shopkeeper earns the profit of 140% and if it is sold at no discount, then profit will be 220%. Find the CP of the article.
A and B started business together by investing Rs. 45,000 in ratio of 2 : 3. If after 3 months C invests Rs. 30,000 then what would be the ratio of their profit sharing at end of one year (A : B : C)?
Oranges are purchased at the rate of 7 oranges for ₹3. At what price one hundred oranges should be sold so that the profit is 33% ?
Rekha sells a DVD player to Liza at a profit of 15% and Liza sells it Megha at a profit of 25%. If Megha pays ₹ 2875 for it, then what was the cost price for Rekha?
