Question
Download Solution PDFThe marked price of a book is ₹2,400. A bookseller gives a discount of 15% on it. What will be the cost price (in ₹) of the book if he still earns a 20% profit?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Marked Price (MP) = ₹2400
Discount percentage = 15%
Profit percentage = 20%
Formula Used:
Selling Price (SP) = MP - (Discount percentage × MP)
SP = Cost Price (CP) + (Profit percentage × CP)
Calculation:
Discount amount = 15% of ₹2400 = (15 / 100) × 2400 = ₹360
Selling Price (SP) = Marked Price - Discount = ₹2400 - ₹360 = ₹2040
The bookseller earns a 20% profit on the Cost Price, so:
Selling Price (SP) = CP + 20% of CP
₹2040 = CP + (20 / 100) × CP
₹2040 = CP + 0.20 × CP
₹2040 = 1.20 × CP
CP = ₹2040 / 1.20
CP = ₹1700
The cost price of the book is ₹1700.
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