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Profit Loss Discount and Value Added Tax | Profit Loss Discount and Value Added Tax Exercise 13.2

Question 13

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

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  • 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

"hello students i am rita your maths leader tutor and the today's question is a shopkeeper allows 23 percent commission in his advertised price and still makes a profit of 10 percent if he gains rupees 56 on one item find his advertised price so first of all we let let advertised advertised price is equal to rupees x and a shopkeeper allows 23 percent commission therefore selling price is equal to advertised price minus commission so advertised price is like marked price and commission is like discount so x minus commission is 23 percent of x now we take the lcm 100 so 100x minus 23 x it becomes 77 by 100 x this is our selling price and in the question it is given that if he gains rupees 56 on one item he gains rupees 56 on one item find his advertised price and in the question it is also given that profit is 10 percent it means gain is 10 now as we know the formula of gain percent is equal to gain by cp into 100 so gain percent is 10 and gain given is 56 upon cp into 100 now we solve this equation when we solve this equation we got 10 now we got 10 divided by 100 is equal to 56 by cp therefore cp is equal to 5600 or we cancel out this so cp is equal to 560 rupees this is our cp and this first equation is the sp and gain is given to us so with the help of this we find the sp so sp minus cp is equal to gain gain is equal to sp minus cp gain is 56 and sp is 77 by 100 x minus cp is 560 so 56 plus 560 is equal to 77 by 100 x now we solve this it becomes 6 1 6 1 6 into 100 by 77 is equal to x now we solve this equation eleven sevens are eleven fives are 55 eleven six now seven ones are and seven area so eight into hundred we got eight hundred equal to x it means the advertised price is rupees 100 so this is our answer advertised price is rupees 800 i hope you like this video so please subscribe video for more updates and do comment your questions thank you"

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Question 13

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

"hello students i am rita your maths leader tutor and the today's question is a shopkeeper allows 23 percent commission in his advertised price and still makes a profit of 10 percent if he gains rupees 56 on one item find his advertised price so first of all we let let advertised advertised price is equal to rupees x and a shopkeeper allows 23 percent commission therefore selling price is equal to advertised price minus commission so advertised price is like marked price and commission is like discount so x minus commission is 23 percent of x now we take the lcm 100 so 100x minus 23 x it becomes 77 by 100 x this is our selling price and in the question it is given that if he gains rupees 56 on one item he gains rupees 56 on one item find his advertised price and in the question it is also given that profit is 10 percent it means gain is 10 now as we know the formula of gain percent is equal to gain by cp into 100 so gain percent is 10 and gain given is 56 upon cp into 100 now we solve this equation when we solve this equation we got 10 now we got 10 divided by 100 is equal to 56 by cp therefore cp is equal to 5600 or we cancel out this so cp is equal to 560 rupees this is our cp and this first equation is the sp and gain is given to us so with the help of this we find the sp so sp minus cp is equal to gain gain is equal to sp minus cp gain is 56 and sp is 77 by 100 x minus cp is 560 so 56 plus 560 is equal to 77 by 100 x now we solve this it becomes 6 1 6 1 6 into 100 by 77 is equal to x now we solve this equation eleven sevens are eleven fives are 55 eleven six now seven ones are and seven area so eight into hundred we got eight hundred equal to x it means the advertised price is rupees 100 so this is our answer advertised price is rupees 800 i hope you like this video so please subscribe video for more updates and do comment your questions thank you"

Our top 5% students will be awarded a special scholarship to Lido.

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