Question

A toyshop wants to earn a profit of $95\%$ on a toy that has a C.P. of 70 rupees, after allowing the discount of $10\%$ on the M.P. Find the M.P.?

Answer 1

Hint:In this type of problem, first we have to find the selling price then apply the marked price formula . After discount marked price will be selling price then we get the required answer.

Complete step-by-step answer:
First we have to find the selling price and it is given in the question
C.P. of the toy =$70$
Because the shopkeeper wants to earn $95\%$ profit on a toy, so that the selling price will be $195\%$ of the cost price.
S.P.= $195\%$ of C.P
$S.P.=\dfrac{195}{100}\times 70$
$S.P.=136.5$
We also know that after discount marked price will be marked price and it is given that the shopkeeper gave a discount of $10\%$ on marked price.
Therefore
$S.P.=90\%\,of\,marked\,price$
$136\dot 5=\dfrac{90}{100}\times M.P.$
$M.P.=\dfrac{136.5\times 100}{90}$
$M.P.=\dfrac{1365}{9}$
$M.P.=151.6$
Therefore the marked price of the toy is 151.6 rupees.

Additional Information:Discount-Discount means reducing the price value of an object or item. For example, on Diwali, most shops give a discount of $10\%,40\%$.
Marked Price-The price that is mentioned or label of an object/product is called marked price. Marked price is also known as list price.
For example: In a shop and departmental stores , every article is tagged with a card and article price written on it that is marked price . Also marked price is labelled in the item box or wrappers.

Note:We can also solve this problem by the using of the formula of profit %
$profit\%=\dfrac{selling\,price-\cos t\,price}{\cos t\,price}\times 100$
Sometimes students make mistakes, how to find unknown terms like selling price, discount etc.