Multiple choice

A shopkeeper allows a discount of 5% on an article. If he allows a discount of 7%, he earns Rs.45 less in the profit. What is the selling price when there is a profit (33\frac{1}{3})% is made on marked price.

  1. Rs.750

  2. Rs.1025

  3. Rs.1000

  4. Rs.1250
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let marked price = M, cost = C. 5% discount: SP = 0.95M, profit = 0.95M - C. 7% discount: SP = 0.93M, profit = 0.93M - C = 0.95M - C - 45. So 0.02M = 45, M = 2250. At 33 1/3% profit on M: SP = M + M/3 = 2250 + 750 = 1000. The difference in discounts reveals the marked price.

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