A shopkeeper marked an article P% above its cost price and sold it for Rs. 720 after giving a discount of 25%. If the shopkeeper had a loss of 13% on the whole transaction, then find the value of ‘P’. (approximate value)
Marked price of article = 720/0.75 = Rs. 960 Cost price of the article = 720/0.87 = Rs. 827.586 So, P = [(960 - 827.586)/827.586] × 100 = 16% (approx)
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