Question

Ramakanth dealing in bedsheets allows 4% discount on the marked price. What price must be marked on a bedsheet that cost Rs. 480 so as to make a profit of 10%?

1. Rs. 650
2. Rs. 550
3. Rs. 450
4. Rs. 300

Answer 1

Correct Answer - Option 2 : Rs. 550

Given:

Discount on the marked price is 4%

Formula Used :

Profit = [(SP - CP)/CP] × 100%

Calculation :

Cost price = Rs. 480

Profit = 480 × 10% = 48

S.P. = 480 + 48 = Rs. 528 

Discount % = 4%

Discount is always given on the marked price

⇒ x × 96%  = 528

⇒x = Rs. 550 

∴ Rs. 550 is the price must be marked on a bedsheet that cost Rs. 480 so as to make a profit of 10%