A shopkeeper allows a discount of 10% on the marked price of an article .what was the marked price of article which costs him Rs 1800 and makes profit of 15%
Let the marked price be p
He gave a discount of 10%p
Given the selling price to be 90%p
Cp=1800
Sp=9p/10 or 0.9p
%Profit=(sp-cp)×100)/cp=15
To find the marked price of the article, we can first calculate the cost price and then use the profit percentage to find the marked price.
Let's calculate the cost price first. We know that the article costs the shopkeeper Rs 1800 and the shopkeeper makes a profit of 15%.
To calculate the cost price, we can use the formula:
Cost Price = (Selling Price * 100) / (100 + Profit Percentage)
Substituting the values into the formula:
Cost Price = (1800 * 100) / (100 + 15)
Cost Price = 180000 / 115
Cost Price ≈ 1565.22
Now that we have the cost price, we can find the marked price by adding the discount.
The shopkeeper allows a discount of 10%, which means the customer pays 90% of the marked price.
Let's denote the marked price as M.
Cost Price = Marked Price - Discount
1565.22 = M - (10/100) * M
1565.22 = M - (0.1) * M
1565.22 = M(1 - 0.1)
1565.22 = M * 0.9
Divide both sides by 0.9 to isolate M:
1565.22 / 0.9 = M
M ≈ 1739.13
Therefore, the marked price of the article is approximately Rs 1739.13.