An article when sold at 10% discount on the marked price gave a profit...
Profit % = (( Profit )/ (Cost price))X100
Profit = Cost price - Selling price
Let cost price be x
So,
10 = (70/x)X100
x= (70 X 100)/10
x=7000
So,
The cost price of the item is 7000 rupees
View all questions of this testAn article when sold at 10% discount on the marked price gave a profit...
Given data:
Discount = 10%
Profit = Rs 70
Let's assume the marked price of the article to be Rs X and cost price to be Rs Y.
Profit = Selling Price - Cost Price
⇒ 70 = (90/100)X - Y [After giving 10% discount, selling price = 90% of the marked price]
⇒ 7X = 10Y + 700 [Multiplying by 10 on both sides]
We can see that we have two variables and only one equation. Hence, we cannot determine the exact values of X and Y.
Therefore, the answer is option 'D' - Cannot be determined.
An article when sold at 10% discount on the marked price gave a profit...
700