Question
Download Solution PDFA watch dealer sells watches at Rs.45,220/- after two successive discounts of 15% and 20% respectively. What is the marked price? (in Rs.)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Selling Price = Rs.45,220/-
Successive Discounts = 15% and 20%
Formula Used:
Marked Price = Selling Price / (1 - Discount1) × (1 - Discount2)
Calculation:
Discount1 = 15% = 0.15
Discount2 = 20% = 0.20
1 - Discount1 = 1 - 0.15 = 0.85
1 - Discount2 = 1 - 0.20 = 0.80
Marked Price = Selling Price / (0.85 × 0.80)
Marked Price = Rs.45,220 / 0.68
Marked Price = Rs.66,500
The marked price is Rs. 66500.
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