Question

A dealer allows a discount of 16% to his customers and still gains 5%. Find the marked price of the table which costs him Rs. 1200

Answer 1

Hint: In the given Question discount percent & cost price are given to us & as we know gain percent is always reckoned on cost price, so it will be calculated with respect to it but table will be sold at selling price which will be obtained after subtracting discount from marked price.

Complete step by step solution:
Cost price of table = Rs. 1200
Gain = 5%
Selling Price $ = \left( {\dfrac{5}{{100}} \times 1200} \right) + 1200$
$ = 60 + 1200$
SP = 1260 Rs. …(1)
Let marked price be $x$
Then discount $ = 16\% {\text{ of }}x$
$ = \dfrac{{16}}{{100}} \times x$
$ \Rightarrow \dfrac{{4x}}{{25}}$
SP = MP – discount
SP $x - \dfrac{{4x}}{{25}}$
$ = \dfrac{{25x - 4x}}{{25}} \Rightarrow \dfrac{{21x}}{{25}} = {\text{SP }}...{\text{ (2)}}$
From equation (1) and (2) we get our MP
$1260 = \dfrac{{21 x}}{{25}}$
$\dfrac{{1260 \times 25}}{{21}} = x$
$x = 1500$
i.e marked price is Rs. 1500

Note: To solve these type of questions we simply have to Subtract discount from marked price to get our selling price & since gain/loss percent will also be provided to us we will simply find selling price from there as well, as we know gain/loss % is reckoned on CP, thus to get required marked price.