Question

The cost price and the marked price of an item are Rs. 720 and Rs. 900 respectively. When it is sold at a discount of x%, the profit is \(\frac{5x}{3}\%\). What is the vale of x?
1. \(5\frac{5}{7}\)
2. \(7\frac{4}{7}\)
3. \(8\frac{4}{7}\)
4. \(5\frac{4}{7}\)

Answer 1

Correct Answer - Option 3 : \(8\frac{4}{7}\)

Given:

CP = Rs. 720

MP = Rs. 900

Concept used:

SP = MP × (100 - discount)/100

SP = CP × (100 + profit)/100

Calculation:

According to the question,

900 × (100 - x)/100 = 720 × (100 + 5x/3)/100

⇒ 900 × (100 - x) = 720 × (100 + 5x/3)

⇒ 90000 - 900x = 72000 + 1200x

⇒ 90000 - 900x = 72000 + 1200x

⇒ 2100x = 18000

⇒ x = 18000/2100

⇒ x = 60/7

⇒ x = \(8\frac{4}{7}\)

∴ The vale of x is \(8\frac{4}{7}\)