1.

After a discount of 40% on marked price of a shirt, it is found that the marked price of a wallet is same as selling price of shirt. The wallet is sold at a profit of 20%. Find the cost price of wallet if marked price of shirt is Rs. 2000.1). Rs. 8002). Rs. 10003). Rs. 12004). Rs. 1280

Answer»

Marked price of shirt = Rs. 2000

DISCOUNT on shirt = 40%

We KNOW, SELLING Price = Marked Price × (1 – ((Discount Percentage)/100))

⇒ Marked price of Wallet = Selling price of shirt = 2000 × (1 – 40/100) = 2000 × 0.6 = 1200

The wallet is sold at a profit of 20%.

We are not given that there is any discount on wallet. So, we assume that discount is 0, and hence selling price and marked price will be same.

⇒ Selling price of Wallet = Rs. 1200

We know, Selling Price = Cost Price × (1 + (Profit Percentage)/100)

⇒ Cost price of wallet = Rs. 1200/(1 + (20/100)) = Rs. 1200/1.2 = Rs. 1000



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