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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. Ram bought a chair at 35% discount on its market price, Had Ram got no discount, he would have had to pay ₹245 more. How much did Ram pay for the chair? 

  2. A shopkeeper bought an item for Rs. 4,500 and sold it at a loss of 5%. From this money, he bought another item and sold it at a profit of 10%. What is his overall profit?

  3. A man sells two articles at Rs. 9,180 each. He gains 8% on one article and loses 15% on the other. His overall profit or loss is:

  4. A shopkeeper selling an article for ₹46 loses 8%. In order to gain 6%, what should be the selling price of the article?

  5. Rahul purchased 80 items from the market. 25% items of the total items were defective and the remaining items were sold at 50% profit. What will be the overall profit percentage?

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