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A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:?
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A dealer marks an article 60% above the cost price and sells it to a c...
Understanding the Problem
To find the cost price of the article, we begin with the information provided:
- The article is marked 60% above the cost price.
- Two successive discounts of 10% and 20% are applied to the marked price.
- The dealer gains ₹1,064 from the transaction.
Calculating the Marked Price
Let the cost price (CP) be ₹x. The marked price (MP) can be calculated as:
- MP = CP + 60% of CP
- MP = x + 0.6x
- MP = 1.6x
Calculating the Selling Price
Now, we apply the discounts:
1. First Discount (10% of MP):
- Discount Amount = 10% of MP = 0.1 × 1.6x = 0.16x
- Price after 1st discount = MP - Discount Amount
- Price after 1st discount = 1.6x - 0.16x = 1.44x
2. Second Discount (20% of Price after 1st discount):
- Discount Amount = 20% of 1.44x = 0.2 × 1.44x = 0.288x
- Selling Price (SP) after both discounts = 1.44x - 0.288x = 1.152x
Calculating Profit
Given the profit from the transaction is ₹1,064:
- Profit = SP - CP
- 1,064 = 1.152x - x
- 1,064 = 0.152x
Finding the Cost Price
Now, solve for x:
- x = 1,064 / 0.152
- x ≈ ₹7,000
Conclusion
Thus, the cost price of the article is approximately ₹7,000.
To find the cost price of the article, we begin with the information provided:
- The article is marked 60% above the cost price.
- Two successive discounts of 10% and 20% are applied to the marked price.
- The dealer gains ₹1,064 from the transaction.
Calculating the Marked Price
Let the cost price (CP) be ₹x. The marked price (MP) can be calculated as:
- MP = CP + 60% of CP
- MP = x + 0.6x
- MP = 1.6x
Calculating the Selling Price
Now, we apply the discounts:
1. First Discount (10% of MP):
- Discount Amount = 10% of MP = 0.1 × 1.6x = 0.16x
- Price after 1st discount = MP - Discount Amount
- Price after 1st discount = 1.6x - 0.16x = 1.44x
2. Second Discount (20% of Price after 1st discount):
- Discount Amount = 20% of 1.44x = 0.2 × 1.44x = 0.288x
- Selling Price (SP) after both discounts = 1.44x - 0.288x = 1.152x
Calculating Profit
Given the profit from the transaction is ₹1,064:
- Profit = SP - CP
- 1,064 = 1.152x - x
- 1,064 = 0.152x
Finding the Cost Price
Now, solve for x:
- x = 1,064 / 0.152
- x ≈ ₹7,000
Conclusion
Thus, the cost price of the article is approximately ₹7,000.
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A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:?
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A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:?.
A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains₹ 1,064 in the transaction, the cost price (in) of the article is:?.
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