Question
Download Solution PDFA shopkeeper lists the price of a fan at 22% above its cost price and offers a 15% discount on its list price. What is the cost price (in Rs. ) of the fan if he sells it at Rs. 5,185?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
List price of the fan = 22% above cost price
Discount on list price = 15%
Selling price = Rs. 5,185
Formula Used:
List Price (LP) = Cost Price (CP) + 22% of CP
Selling Price (SP) = LP - 15% of LP
Calculation:
Let the cost price of the fan be Rs. x.
List Price (LP) = x + 0.22x
⇒ LP = 1.22x
After a 15% discount, the selling price is:
Selling Price (SP) = LP - 0.15LP
⇒ SP = 1.22x - 0.15(1.22x)
⇒ SP = 1.22x × (1 - 0.15)
⇒ SP = 1.22x × 0.85
Given that the selling price is Rs. 5,185:
5,185 = 1.22x × 0.85
⇒ 5,185 = 1.037x
⇒ x = 5,185 / 1.037
⇒ x = 5,000
The cost price of the fan is Rs. 5,000.
Last updated on Jun 30, 2025
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