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Mukul Choudhary

· started a discussion

· 1 Months ago

Wrong soln (Question: 201239.0 )

Hey profit is calculated on CP and not on SP

Question:
A shopkeeper allows 23% discount on his M.R.P. and still makes a profit of 10%. If he gains 56 on one item, his M.R.P. of the item is —
Options:
A) Rs. 800
B) Rs. 790
C) Rs. 780 
D) Rs. 820
Solution:
Ans: (a)


Knowledge Expert

· commented

· 1 Months ago

Dear Student,

Its correct. Remember - Profit is always reckoned on CP.
Alternate solution:
Advertised price of the item = Rs. N
∴ Commission on advertised price of the article = Rs. (N x 23)/100
Price after commission = N - (23N/100) = Rs. 77N/100
∴ CP of the item = [(77N/100) x 100]/(100 + 10) = 77N/110 = Rs. 7N/10
Profit = 77N/100 - 7N/10 = Rs. 7N/100
⇒ 56 = 7N/100
∴ N = (56 x 100)/7 = Rs. 800

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