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A shopkeeper gives a discount of 10% on his items. ₹ 280 is the marked price of an item. On selling this item, the shopkeeper earns a profit of 26%. What is the cost price of the item ?
Explanation
To find the cost price (CP), we can use the relationship between the marked price (MP), discount, and profit.
Step 1: Calculate the Selling Price (SP)
SP = MP × (100 - Discount%)/100
SP = 280 × (100 - 10)/100 = 280 × 90/100 = ₹ 252
Step 2: Calculate the Cost Price (CP)
The shopkeeper earns a profit of 26%, so:
SP = CP × (1 + Profit/100)
252 = CP × (1 + 26/100) = CP × 1.26
CP = 252 ÷ 1.26 = ₹ 200
Alternative Method:
Using the ratio formula:
CP/MP = (100 - Discount%)/(100 + Profit%)
CP/280 = 90/126 = 5/7
CP = 280 × 5/7 = 40 × 5 = ₹ 200
SIMILAR QUESTIONS
A shopkeeper gives two consecutive discounts of 10% and 5% respectively on his items. He then adds 20% GST on his items. If an item has marked price 2,000, how much more or less of the actual price of the item a customer has to pay?
1. A shopkeeper lists the selling price of an item at 20% more than its cost price. He then offers a festival discount of 10% on that item. What is his net profit ?
In a stock clearance sale, a shopkeeper gives 40% off on all his items. He incurs a loss of 25% by selling an item of marked price 2,000. Which one of the following is the cost price of this item?
If a shopkeeper sells an item 'A' at 20% profit and item 'B' at 25% profit, then the total profit made is ₹ 120. If he sells item 'A' at 25% profit and item 'B' at 20% profit, then the total profit made is ₹ 105. What is the sum of the cost price of items 'A' and 'B' ?