An item was marked 40% above its cost price and then given two success

1.	An item was marked 40% above its cost price and then given two successive discounts of 20% each. Calculate the cost price of the item if the selling price is Rs. 44801. Rs. 48002. Rs. 52003. Rs. 50004. Rs. 45005. Rs. 5600
Answer» Correct Answer - Option 3 : Rs. 5000 Given: Marked price is 40% above cost price. Successive discount of 20% is given Selling price of the item is Rs. 4480 Concept: Successive discount means discount on the discounted price. Formula: Mp = (100 + x)% of Cp Sp = {Mp × (100 – y)%} × (100 – y)%} Where Mp = marked price Cp = cost price x = percentage above cost price Mp is marked Sp = selling price y = successive discounts given Calculation: Let the Cp of the item be x Mp = 140% of x = 1.4x Sp = (1.4x × 80%) × 80% ⇒ Sp = 1.12x × 80% ⇒ Sp = 0.896x 0.896x = 4480 ⇒ x = 4480/0.896 ⇒ x = 5000 ∴ Cost Price is Rs. 5000

An item was marked 40% above its cost price and then given two successive discounts of 20% each. Calculate the cost price of the item if the selling price is Rs. 44801. Rs. 48002. Rs. 52003. Rs. 50004. Rs. 45005. Rs. 5600

Answer» Correct Answer - Option 3 : Rs. 5000

Given:

Marked price is 40% above cost price.

Successive discount of 20% is given

Selling price of the item is Rs. 4480

Concept:

Successive discount means discount on the discounted price.

Formula:

Mp = (100 + x)% of Cp

Sp = {Mp × (100 – y)%} × (100 – y)%}

Where Mp = marked price

Cp = cost price

x = percentage above cost price Mp is marked

Sp = selling price

y = successive discounts given

Calculation:

Let the Cp of the item be x

Mp = 140% of x = 1.4x

Sp = (1.4x × 80%) × 80%

⇒ Sp = 1.12x × 80%

⇒ Sp = 0.896x

0.896x = 4480

⇒ x = 4480/0.896

⇒ x = 5000

∴ Cost Price is Rs. 5000

Discussion

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