Question
Download Solution PDFA dealer's cost price for each fan he would like to sell is ₹2,000. After allowing a discount of 20% on its marked price, he gains 20%. His marked price of the fan is :
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price = 2000
Discount is given on Marked Price = 20%
Profit earned = 20%
Formula used:
S.P. = M.P. - D% of M.P.
C.P. = (S.P. × 100)/(100 + P)
Mark up% = {(M.P. - C.P.)/C.P.} × 100
Where, M.P. = Mark price, C.P. = Cost price, S.P. = Selling price
P = Profit%
Calculation:
Let the M.P. be 100x
Then, S.P. = 100 - 20% of 100
⇒ 100 - (20/100) × 100 = 80x
Now, S.P. = (2000)(100 + 20)/100
⇒ 2400
⇒ 80x = 2400
⇒ x = 30
⇒ M.P = 100x → 30 × 100 = 3000
∴ The markup price is 3000.
Last updated on Jul 9, 2025
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