Question

A dealer buys sofa sets for Rs. 24000. At what price must he mark it so that after allowing a discount of 20%, he still makes a profit of 30%

Answer 1

Hint: In this question we are asked to give the discount on selling price still the vendor will be in profit. Carefully read the question and identify the percentage discount, profit and cost price of the sofa set.
Profit = Selling price – Cost Price

Complete step-by-step solution:
Given in the problem,
Cost price of sofa set = Rs. 24000
Discount percentage = 20%
Profit percentage = 30%
Consider selling price on tag of the sofa set =Rs. x
After discount the price will become,
$ = 0.8x\,Rs.$
Profit on sofa set,
$ = 24000 \times 0.3 \\
   \Rightarrow 7200\,Rs. $
Profit = Selling price – Cost price
$ 7200 = 0.8x - 24000 \\
   \Rightarrow 0.8x = 31200 \\
   \Rightarrow x = 39000\,Rs. $
So, the shopkeeper needs to mark the sofa set at Rs. 39000.

Note: In the question the discount and profit are given in percentage we can find out the actual amount by multiplying them with the given quantity.
The profit is observed when the selling price is more than the cost price. When the cost price is more the vendor will suffer a loss.