Question
Download Solution PDFA shopkeeper marked a price Rs.16,500 more than a cost price. If the shopkeeper allowed a discount of 8% to the customer it would fetch Rs.3630 more than if he allowed a discount of 10%. Find the cost price.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The difference between the two selling price is Rs.3630
Two different discounts are 8% and 10% respectively
Formulae Used:
If the MP of an article is x, and discount is d%; then :
SP = [(100 - d)/100] × MP
Profit = SP - CP
Calculation:
Let the marked price is Rs. x
⇒ 10% of x – 8% of x = 3630
⇒ 2x/100 = 3630
⇒ x = Rs.1,81,500
Marked price is Rs.1,81,500
According to question
Cost price = Marked price – 16,500
= Rs.1,81,500 – Rs.16,500
= Rs.1,65,000
Shortcut Trick
(10 - 8)% = 2% of marked price = Rs.3,630
⇒ 1% of marked price = 3,630/2 = Rs.1,815
⇒ 100% of marked price = Rs.1,815 × 100 = Rs.1,81,500
∴ CP = Rs.1,81,500 – Rs.16,500
= Rs.1,65,000
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