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A shopkeeper allows 23% commission in his advertised price and still makes aprofit of 10%. If he gains Rs. 56 on one item, find his advertised price

• Solution

• Transcript

Let us consider the advertised price be = Rs x

And the commission on the advertised price = 23% = Rs 23x/100

Selling price = advertised price – commission

= x – 23x/100

= (100x – 23x)/100

= Rs 77x/100 ……(equation 1)

Given gain = Rs 56 Profit percent = 10%

So, by using the formula,

Gain% = (gain/CP) × 100

10 = (56/CP) × 100

10/100 = 56/CP

CP = 560

Gain = SP – CP

SP = 560 + 56 = Rs 616

From the above equation 1 we get,

77x/100 = 616

x = (616 × 100)/77

= 800

∴ advertised price is Rs 800

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