Practicing Success
A shopkeeper pays 12% of the cost price as tax while purchasing an item whose cost is ₹ 500. He wants to earn a profit of 20% after giving a discount of 16% on the marked price. So, the marked price should be: |
₹840 ₹960 ₹780 ₹800 |
₹800 |
Cost price of the article = 500 Tax = 12% Then the actual cost price for the shopkeeper = 112% of 500 = 560 He wants to earn a profit of 20% after giving a discount of 16% on the marked price = Now according to the question the marked price = 560 × \(\frac{120}{100}\) × \(\frac{100}{84}\) = 800 |