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A shopkeep offers a discount of 20% on all the articles at his shop and still makes a profit of 12%. What is the CP of an article whose MP is Rs280?

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SalmonWorldTopper

Given info:-

A shop keeper offers a discount of 20% on all the articles at his shop and all makes a profit of 12%.

What is the CP of an article whose MP is Rs. 280 ?

Explanation:-

Given that

The Marked Price of an article (M) = Rs. 280

Discount on it = 20%

Discount (D) = MD/100

⇛ Discount = (280×20)/100

⇛ Discount = 28×2

⇛ Discount =56

Selling Price = Marked Price - Discount

⇛ Selling Price = 280-56

⇛ Selling Price = Rs. 224

Selling Price of the article = 224

Profit on it = 12%

We know that

Cost Price = (100×SP)/(100+g)

⇛ CP = (100×224)/(100+12)

⇛ CP = 22400/112

⇛ CP = 200

Therefore, The CP = Rs. 200

The Cost Price of the article = Rs. 200.

Formula:-

  • Discount (D) = MD/100

M = Marked Price

  • Selling Price = Marked Price - Discount
  • Cost Price = (100×SP)/(100+g)

SP = Selling Price

g = gain or profit

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