A shopkeeper buys an article at 30% discount on its marked price and sells it at 5% discount onits marked price. If he earns a
profit of Rs65, then whatis the marked price (in Rs) of the article?
This questions was previously asked in
SSC CGL 18th August 2021 Shift-2
Explanation:
- Marked Price (MP): It's the original price marked on the article before any discounts.
- Cost Price (CP): The price at which the shopkeeper buys the article. He gets a 30% discount on the MP.
- CP = 70% of MP
- Selling Price (SP): The price at which the shopkeeper sells the article. He gives a 5% discount on the MP.
- SP = 95% of MP
- Profit Earned: The difference between Selling Price and Cost Price of the article.
- Profit = SP - CP
- Given Profit is Rs. 65
- Calculating Marked Price:
- \( CP = \frac{70}{100} \times MP \)
- \( SP = \frac{95}{100} \times MP \)
- \( SP - CP = 65 \)
- \( \left(\frac{95}{100} \times MP\right) - \left(\frac{70}{100} \times MP\right) = 65 \)
- \( \left(\frac{25}{100} \times MP\right) = 65 \)
- \( MP = \frac{65 \times 100}{25} = 260 \)
- Options:
1. 227.50
2. 325
3. 260
4. 292.50
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By: santosh