Word Problem 2 (Cost calculation, marked price , discount)
Problem 2: A trades man marks his goods 25% above cost price, but allows 12-1/2% discount to cost payment. Find the cost of an article which is sold for Rs 875.
a. Rs 700 b. Rs 800 c. Rs 900 d. RS 950
(math test for jobs. MCQs on math)
Solution:
Before we give solution note that
CP= Cost Price
MP=Marked Price
SP= Sale Price
D=Discount
We are given that SP = Rs 875
We proceed further by supposing that
CP=y
Now since marked price is
This is customer’s cost payment amount !
Now discount is 12-1/2% of customers cost payment, we write discount as;
after calculation and simplification we get
Now formula for discount is
Putting values of D, MP and SP
So, the cost price is Rs 800
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