A shopkeeper marked an article P% above its cost price and sold it for Rs. 640 after giving a discount of 22%. If the shopkeeper had a loss of 6.4% on the whole transaction, then find the value of ‘P’. (approximate value)
Marked price of article = 640/0.78 = Rs. 820.513 Cost price of the article = 640/0.936 = Rs. 683.761 So, P = [(820.513 - 683.761)/683.761] × 100 = 20% (approx)
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