Question

A dealer bought a refrigerator for Rs. 11515. After allowing a discount of 16% on its marked price, he gains 20%. Find the marked price of the refrigerator.

Answer 1

Cost Price = Rs.11515 

Gain = 20%

Selling Price = \(\frac{100\,+\,Gain\%}{100}\times CP\)

\(=\frac{100\,+\,20}{100}\times 11515\)

= Rs.13818 

Discount = 16% 

Let x be the market price. 

Market Price – Discount = Selling Price 

x – 16% of x = 13818 

x – 16x/100 = 13818 

84x/100 = 13818 

x = (13818 × 100) / 84 

= Rs.16450 

So, Market Price of refrigerator is Rs.16450