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 $₹900$.
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Important Questions from Profit and Loss
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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?
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