Question
A shopkeeper marked an article P% above its cost price
and sold it for Rs. 1600 after giving a discount of 20%. If the shopkeeper had a loss of 8% on the whole transaction, then find the value of ‘P’. (approximate value)Solution
Marked price of article = 1600/0.80 = Rs. 2000 Cost price of the article = 1600/0.92 = Rs. 1739.13 ATQ- Mark price = cost price (1+p/100) 2000 =1739.13(1+p/100) 2000/1739.13 =(1+p/100) 1.15 =1+p/100 p/100 =0.15 p =15%
The royal treasure was accused of drawing funds without the king’s permission from the state treasury to build the shrines.
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