A shopkeeper allows 23% commission on his advertised price and still makes a profit of 10% . If he gains Rs. 56 on one item, his advertised price of the item, in Rs. is = ?
A. 820
B. 780
C. 790
D. 800
Answer: Option D
Solution(By Examveda Team)
Advertised price of the item = N∴ Commission on advertised price of the article = $$\frac{{N \times 23}}{{100}}$$
Price after commission = $$N - \frac{{23N}}{{100}} = \frac{{77N}}{{100}}$$
$$\eqalign{ & \therefore {\text{CP}}\,{\text{of}}\,{\text{the}}\,{\text{item}} \cr & \frac{{\frac{{77N}}{{100}} \times 100}}{{100 + 10}} \cr & = \frac{{77N}}{{110}} \cr & = \frac{{7N}}{{10}} \cr & {\text{Profit}} = \frac{{77N}}{{110}} - \frac{{7N}}{{10}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{7N}}{{110}} \cr & \Rightarrow 56 = \frac{{7N}}{{110}} \cr & \therefore N = \frac{{56 \times 100}}{7} = 800 \cr} $$
Related Questions on Profit and Loss
A. 45 : 56
B. 45 : 51
C. 47 : 56
D. 47 : 51
A. Rs. 2600
B. Rs. 2700
C. Rs. 2800
D. Rs. 3000
A. A neither losses nor gains
B. A makes a profit of 11%
C. A makes a profit of 20%
D. B loses 20%
A. Rs. 3,750
B. Rs. 3,250
C. Rs. 2,750
D. Rs. 2,250
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