Question

A carpenter allows \[15\% \] discount on his goods. Find the marked price of a chair which is sold by him for Rs. $680$ ?

Answer 1

Hint: It is given that the carpenter sold a chair for Rs. $680$ . So, this will be the selling price of a chair. Also, the carpenter has given the discount of \[15\% \] on a chair. So, adding the discount amount to the selling price of a chair will give us the marked price of a chair, which is the required answer.

Complete step-by-step answer:
In the question, it is given that the carpenter sold a chair for Rs. $680$, which is basically the selling price \[SP\] of a chair.
Therefore, Selling Price \[SP = 680\]
Also, the carpenter has given the discount of \[15\% \] on a chair.
So, discount $D = 15\% $
Now, we need to calculate the marked price $MP$ of a chair, which is given by the formula shown below,
$SP = MP - MP \times \dfrac{D}{{100}}$
Substituting the values \[SP = 680\] , $D = 15\% $ in the above formula, we get
$680 = MP - MP \times \dfrac{{15}}{{100}}$
$680 = MP - 0.15MP$
Now, subtracting $MP$ and $0.15MP$ , we get
$680 = 0.85MP$
Now, we will divide $680$ by $0.85$ , we get
$\dfrac{{680}}{{0.85}} = MP$
Therefore, $MP = 800$
Hence, the marked price of a chair comes out to be Rs. $800$ .

Note: Keep in mind that the statement can vary differently but the very concept of marked price, selling price and discount remains the same. The price on the label of an article is called the marked price. This is the price at which product is intended to be sold. The amount for which the product is sold is called Selling Price. Also, sometimes called a sale price. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price. Profit is seen when the selling price is more than the cost price.
Loss is seen when the selling price is less than the cost price.