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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 25% More Than CP

\Rightarrow MP= 25% of CP+CP

\Rightarrow MP=\frac{25y}{100}+y

\Rightarrow MP=0.25y+y

\Rightarrow MP=1.25y

This is customer’s cost payment amount !

Now discount is 12-1/2% of customers cost payment, we write discount as;

D=12\frac{1}{2}\times 100 \times1.25y

after calculation and simplification we get

D=0.15625y

Now formula for discount is

D=MP-SP

Putting values of D, MP and SP

\Rightarrow 0.15625y=1.25y-875

\Rightarrow 1.09375y=875

\Rightarrow y=800

So, the cost price is Rs 800

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