A shopkeeper wants to earn a profit of \(11\frac{1}{9}\%\) even after giving two successive discounts of \(16\frac{2}{3}\%\) and 20% on the marked price of an article. If the cost price of the article for the shopkeeper is ₹1800, what should its marked price be?
₹3000
First find the selling price from the required profit. A profit of \(11\frac{1}{9}\% = \frac{100}{9}\%\) gives \(SP = 1800 \times \left(1 + \frac{1}{9}\right) = 1800 \times \frac{10}{9} = 2000\).
Now relate the selling price to the marked price through the two successive discounts. A discount of \(16\frac{2}{3}\% = \frac{50}{3}\%\) leaves a factor of \(1 - \frac{1}{6} = \frac{5}{6}\).
A discount of 20% leaves a factor of \(1 - \frac{20}{100} = \frac{4}{5}\).
So \(SP = MP \times \frac{5}{6} \times \frac{4}{5} = MP \times \frac{2}{3}\).
Therefore \(2000 = MP \times \frac{2}{3}\), which gives \(MP = 2000 \times \frac{3}{2} = 3000\).
Hence, the marked price should be ₹3000.
Similar Questions
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Important Questions from Discount and MP
If a trader marks the price of an article 50 percent more than the cost price and allows a discount of 30 percent, then what is his profit percentage?
What will be the selling price of an article if two successive discounts of 15% and 12% are offered on its marked price of Rs. 25,500?
Printed price of a mobile is Rs. 6,400. It is sold in Rs. 2,560 with two consecutive discount. If first discount is 20%, then what is the second discount?
Lekhana saves Rs. 15 on the purchase of a book when a discount of 20% is given. How much did she pay for the book?
What will be the selling price if three successive discounts of 10% is applied on an item marked at Rs 3000?
