Question
Download Solution PDFAfter allowing a discount of 10% on its marked price, the value of a mobile phone is Rs. 20,250. If no discount is allowed, then the shopkeeper gains 20%. The cost price of the mobile phone is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven Data:
Selling price after 10% discount = Rs. 20,250
Gain percent = 20%
Concept:
Cost Price = Marked Price / (1 + Gain Percent/100)
Calculation
Marked Price = Selling Price / (1 - Discount Percent/100)
⇒ Marked Price = 20250 / (1 - 10/100)
⇒ Marked Price = Rs. 22,500
Cost Price = Marked Price / (1 + Gain Percent/100)
⇒ Cost Price = 22500 / (1 + 20/100)
⇒ Cost Price = Rs. 18,750
Hence, the cost price of the mobile phone is Rs. 18,750.
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