Question
Download Solution PDFA retailer marks up his goods by 150% and offers a 40% discount. What will be the selling price if the cost price is ₹ 1,600?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost Price (CP) = ₹1,600
Markup = 150%
Discount = 40%
Formula used:
Selling Price (SP) = Marked Price (MP) - Discount
MP = CP + (Markup% of CP)
Discount = Discount% of MP
Calculation:
MP = 1600 + (150% of 1600)
⇒ MP = 1600 + (1.5 × 1600)
⇒ MP = 1600 + 2400
⇒ MP = 4000
Discount = 40% of 4000
⇒ Discount = 0.4 × 4000
⇒ Discount = 1600
SP = MP - Discount
⇒ SP = 4000 - 1600
⇒ SP = 2400
∴ The correct answer is option 1.
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