Marked Price Discount Calculation
The question requires finding the Cost Price (CP) based on the Marked Price (MP), discount percentage, and profit percentage.
Step 1: Calculate Selling Price (SP)
Determine the Selling Price (SP) by applying the discount to the Marked Price.
- Marked Price (MP) = $₹1,200$
- Discount Rate = 10%
- Discount Amount = $10\% \times ₹1,200 = 0.10 \times ₹1,200 = ₹120$
- Selling Price (SP) = MP - Discount Amount
- SP = $₹1,200 - ₹120 = ₹1,080$
Step 2: Calculate Cost Price (CP)
Calculate the Cost Price (CP) using the Selling Price and the profit percentage.
- Profit Rate = 20%
- Since the profit is 20%, the Selling Price (SP) is 120% of the Cost Price (CP).
- SP = $(100\% + 20\%) \times \text{CP} = 1.20 \times \text{CP}$
- Substitute the calculated SP: $₹1,080 = 1.20 \times \text{CP}$
- CP = $₹1,080 / 1.20$
- CP = $₹900$
The cost price of the article is $₹900$.
Similar Questions
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Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
A man sells a car to his friend at the loss of 10 %; who in return sells it for Rs. 54000 making a profit of 20 %. What was the initial value of the car?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?
