Question

A trader marks his goods in such a way that even after allowing 15% discount on the marked price he still gains 27.5%. If the cost price of the goods is Rs. 200, then its marked price is:
1. Rs. 300
2. Rs. 250
3. Rs. 400
4. Rs. 350

Answer 1

Correct Answer - Option 1 : Rs. 300

Given:

The cost price of the goods = 200

Discount = 15%

Gains = 27.5%

Formula used:

\({\rm{selling\;price}} = {\rm{\;marked\;price}} \times \frac{{100 - {\rm{discount\;percentage}}}}{{100}}\)

\({\rm{selling\;price}} = {\rm{\;cost\;price\;}} \times \frac{{100 + {\rm{gain\;percentage}}}}{{100}}\)

Calculation:

Let the marked price of goods be Rs. x

\({\rm{selling\;price}} = {\rm{X}} \times \frac{{100 - 15}}{{100}}\)

⇒ selling price = (85/100) × x

⇒ selling price = 0.85 × x      ----(i)

And \({\rm{selling\;price}} = 200{\rm{\;}} \times \frac{{100{\rm{\;}} + {\rm{\;}}27.5{\rm{\;}}}}{{100}}\)

⇒ selling price = 2 × 127.5

⇒ selling price = 255      ----(ii)

From equation (i) and (ii)

⇒ 0.85 × x = 255

⇒ x = 255/0.85

⇒ x = 300

Hence, the marked price of goods is Rs. 300.