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Question

A dealer purchased an oven for ₹54,000. He allows a discount of 10% on its marked price and still gains 75%. Find the marked price of the oven.

The correct answer is
₹1,05,000

To find the marked price (MP) of the oven, we need to work backward from the cost price (CP) using the given profit and discount information.

Oven Cost Price and Profit Calculation

The dealer purchased the oven for ₹54,000. This is the Cost Price (CP).

The dealer gains a profit of 75%. We can calculate the Selling Price (SP) using the formula:

$$ \text{SP} = \text{CP} \times (1 + \frac{\text{Profit Percentage}}{100}) $$

Substituting the values:

$$ \text{SP} = ₹54,000 \times (1 + \frac{75}{100}) $$

$$ \text{SP} = ₹54,000 \times (1 + 0.75) $$

$$ \text{SP} = ₹54,000 \times 1.75 $$

$$ \text{SP} = ₹94,500 $$

So, the selling price of the oven is ₹94,500.

Oven Selling Price and Marked Price Relation

The dealer allows a discount of 10% on the marked price (MP). The selling price (SP) is the marked price minus the discount.

The formula relating SP, MP, and Discount is:

$$ \text{SP} = \text{MP} \times (1 - \frac{\text{Discount Percentage}}{100}) $$

We know the SP is ₹94,500 and the discount is 10%.

$$ ₹94,500 = \text{MP} \times (1 - \frac{10}{100}) $$

$$ ₹94,500 = \text{MP} \times (1 - 0.10) $$

$$ ₹94,500 = \text{MP} \times 0.90 $$

Final Marked Price Calculation

To find the marked price (MP), we rearrange the formula:

$$ \text{MP} = \frac{\text{SP}}{0.90} $$

Substituting the calculated SP:

$$ \text{MP} = \frac{₹94,500}{0.90} $$

$$ \text{MP} = \frac{₹94,500}{9/10} $$

$$ \text{MP} = ₹94,500 \times \frac{10}{9} $$

$$ \text{MP} = ₹10,500 \times 10 $$

$$ \text{MP} = ₹105,000 $$

Therefore, the marked price of the oven is ₹105,000.

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Important Questions from Profit and Loss

  1. 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?

  2. 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?

  3. 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:

  4. The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?

  5. 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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