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01 Sep 2024, 21:03
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shopkeeper marks in article at such a price that after allowing a discount of 30% on the tag price including tax he makes the profit of 40%. if the tag price of the article including tax is 460 when the cost price of the article is?
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01 Sep 2024, 21:42
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shopkeeper marks in article at such a price that after allowing a discount of 30% on the tag price including tax he makes the profit of 40%. if the tag price of the article including tax is 460 when the cost price of the article is?
Lets understand the concept first:
Cost price + Mark up % = MP
MP - Discount = SP
Cost price * Profit % = SP
MP - Discount = Cost price * profit %
Now translating the word equation -
"marks in article at such a price" means MP
"after allowing a discount of 30% on the tag price including tax he makes the profit of 40%" means MP - Discount % on MP = Cost price + Profit % on Cost price
460 - 460*30% = CP + CP*40%
We have to find CP
460(1-30%) = CP (1+40%)
CP = 460 (70%)/140%
= 460 * 7* 100 / 140 * 10
= 230
Pls kudos if you like the explanation
Lets understand the concept first:
Cost price + Mark up % = MP
MP - Discount = SP
Cost price * Profit % = SP
MP - Discount = Cost price * profit %
Now translating the word equation -
"marks in article at such a price" means MP
"after allowing a discount of 30% on the tag price including tax he makes the profit of 40%" means MP - Discount % on MP = Cost price + Profit % on Cost price
460 - 460*30% = CP + CP*40%
We have to find CP
460(1-30%) = CP (1+40%)
CP = 460 (70%)/140%
= 460 * 7* 100 / 140 * 10
= 230
Pls kudos if you like the explanation
I perceive that we can solve the entire question in percentage form like
Let assume mark price be 100 so 30% discount means MP 70
On 70 there is 40% profit which means
70=140%
Then by this equation
The value of 1 would be 140/70
Which is 2
And the MP assumed is 100 so 2*100=200
200=460 given
So again value of 1=2.3
And cp of any product is based at 100 so 2.3*100= 230
I have followed the comparing method,comparing the value let with original one given in question.
I might thing that this method will work
Let assume mark price be 100 so 30% discount means MP 70
On 70 there is 40% profit which means
70=140%
Then by this equation
The value of 1 would be 140/70
Which is 2
And the MP assumed is 100 so 2*100=200
200=460 given
So again value of 1=2.3
And cp of any product is based at 100 so 2.3*100= 230
I have followed the comparing method,comparing the value let with original one given in question.
I might thing that this method will work
