Question
Download Solution PDFThe printed price of an article is 40% higher than its cost price. Then, what is the rate of discount so that the gain is 12% profit ?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The printed price of an article is 40% higher than its cost price. Then, what is the rate of discount so that the gain is 12% profit?
Formula used:
Let the cost price (CP) be ₹100.
Printed Price (PP) = CP + 40% of CP
Let the Selling Price (SP) be such that the gain is 12%.
SP = CP + 12% of CP
Discount = PP - SP
Discount Rate = (Discount / PP) × 100
Calculation:
Let CP = ₹100.
PP = 100 + 40% of 100
⇒ PP = 100 + 40
⇒ PP = ₹140
SP = 100 + 12% of 100
⇒ SP = 100 + 12
⇒ SP = ₹112
Discount = PP - SP
⇒ Discount = 140 - 112
⇒ Discount = ₹28
Discount Rate = (Discount / PP) × 100
⇒ Discount Rate = (28 / 140) × 100
⇒ Discount Rate = 0.2 × 100
⇒ Discount Rate = 20%
∴ The correct answer is 20%.
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