Calculate Marked Price with Discount and Profit
This solution outlines the steps to find the marked price (MP) of an item when the cost price (CP), discount percentage, and profit percentage are known.
Determine Selling Price (SP)
First, calculate the Selling Price (SP) using the Cost Price (CP) and the profit percentage. The profit is 20% on the CP.
- Cost Price (CP): Rs. 720
- Profit Percentage: 20%
The formula for SP is:
$ SP = CP \times (1 + \text{Profit Percentage}) $
Substituting the values:
$ SP = 720 \times (1 + 0.20) $
$ SP = 720 \times 1.20 $
$ SP = 864 $
So, the Selling Price is Rs. 864.
Calculate Marked Price (MP)
Next, calculate the Marked Price (MP) using the Selling Price (SP) and the discount percentage. The discount is 40% on the MP.
- Selling Price (SP): Rs. 864
- Discount Percentage: 40%
The relationship between SP, MP, and discount is:
$ SP = MP \times (1 - \text{Discount Percentage}) $
To find the MP, rearrange the formula:
$ MP = \frac{SP}{(1 - \text{Discount Percentage})} $
Substituting the values:
$ MP = \frac{864}{(1 - 0.40)} $
$ MP = \frac{864}{0.60} $
$ MP = 1440 $
Therefore, the Marked Price is Rs. 1,440.
Final Answer
The marked price of the item is Rs. 1,440.
Similar Questions
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Important Questions from Profit and Loss
By selling an article for Rs. 2,200, a profit of 10% is earned. If the same article is sold for Rs. 2,600, then what will be the gain percentage?
By selling an article for Rs. 640, a person loses 15% of its selling price. At what price (in Rs.) should he sell it to gain 15% on its cost price?
The selling prices of articles A and B are the same. A is sold at a profit of 28 percent and B is sold at a loss of 24 percent. If the total selling price of the both articles is Rs. 48640, then what is the cost price of A and B, respectively ?
The cost price of an article is Rs. 2800. Profit as a percentage of selling price is 20 percent. What is the actual profit (in Rs.) ?
A trader bought 640 kg of rice. He sold a part of rice at 20% profit and the rest at 5% loss. He earned a profit of 15% in the entire transaction. What is the quantity (in kg) of rice that he sold at 5% loss?
