The shopkeeper allows a discount of 20% on the marked price of an article and sells it for ₹896. (a) Calculate the marked price of the article. (b) By selling the article at the discounted price, if he still gains 12% on his cost price, what was the cost price? (c) What would have been his profit percentage if he had sold the article at the marked price?
Added by Ramon S.
Step 1
Let's assume the marked price is M. The discount given is 20%, which means the customer pays 80% of the marked price. So, the selling price is 80% of M, which is 0.8M. Given that the selling price is ₹896, we can set up the equation: 0.8M = ₹896 To Show more…
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