Question
Download Solution PDFA dealer buys an article listed at Rs. 3,000 and gets successive discounts of 15% and 15%. He spends Rs. 250 on transportation and sells it at a profit of 20%. Find the selling price of the article.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Marked price = Rs. 3000
Discounts = 15% and 15%
The cost of transportation = Rs. 250
Required profit = 20%
Formula used:
C.P. = [(100 - Discount%)/100] × M.P.
S.P. = C.P. × [(100 + Profit%)/100]
Where,
C.P. = Cost price;
S.P. = Selling price;
M.P. = Marked price
Calculation:
The cost price = 300 × [(100 - 15)/100] × [(100 - 15)/100]
⇒ 3000 × (85/100) × (85/100)
⇒ Rs. 2167.5
Total spending = 2167.5 + 250
⇒ Rs. 2417.5
The selling price = 2417.5 × [(100 + 20)/100]
⇒ 2417.5 × (120/100)
⇒ Rs. 2901
∴ The required selling price is Rs. 2901.
Last updated on Jul 22, 2025
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