Question
Download Solution PDFA shopkeeper allows a rebate of 12% on the marked price of an article such that the selling price is Rs. 1320. Then the marked price of the article is :
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Selling Price (SP) = Rs. 1320
Rebate = 12%
Formula Used:
SP = Marked Price (MP) × (1 - Rebate/100)
Calculation:
Let the Marked Price (MP) be Rs. x.
Rebate = 12%
SP = MP × (1 - Rebate/100)
1320 = x × (1 - 12/100)
1320 = x × (88/100)
1320 = x × 0.88
⇒ x = 1320 / 0.88
⇒ x = 1500
The marked price of the article is Rs. 1500.
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