A shopkeeper sells an item for ₹462 after offering a discount of 25% on its list price. Had he not offered any discount he would have earned a profit of 10%. What is the cost price (in ₹) of the article?
- A580
- B540
- C550
- D560
Solution & Step-by-step Explanation
Let the list price (Marked Price, MP) of the item be M.
The item is sold for ₹462 at a discount of 25%.
Selling Price (SP)=M×(1−
100
25
)=M×
100
75
=0.75M
462=
4
3
M⟹M=
3
462×4
=154×4=₹616
If no discount is offered, the item is sold at the list price (M).
So, new Selling Price = ₹616.
At this price, the shopkeeper earns a 10% profit.
New SP=Cost Price (CP)×(1+
100
10
)
616=CP×
100
110
=CP×
10
11
CP=
11
616×10
=56×10=₹560
The item is sold for ₹462 at a discount of 25%.
Selling Price (SP)=M×(1−
100
25
)=M×
100
75
=0.75M
462=
4
3
M⟹M=
3
462×4
=154×4=₹616
If no discount is offered, the item is sold at the list price (M).
So, new Selling Price = ₹616.
At this price, the shopkeeper earns a 10% profit.
New SP=Cost Price (CP)×(1+
100
10
)
616=CP×
100
110
=CP×
10
11
CP=
11
616×10
=56×10=₹560