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Finding Marked Price and List Price

Profit Loss and Discount - Concepts

Profit and Loss Percent

Finding Marked Price and List Price

Discount and Discount Percentage

Successive Discount

Finding Tax

Class - SSC CGL Subjects

Concept Explanation

Finding Marked Price and List Price

Marked Price: The price on the label of an article/product is called the marked price. This is the price at which product is intended to be sold. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price.

List Price: Electric goods, electronic and other things which are manufactured in a factory are marked according to the price list supplied by the factory, at which the retailer is supposed to sell them. This price is known as the list price.

Remark: Discount is given on the marked price only.

Illustration1: Namitha offers a discount of 20% on all the items at her shop and still makes a profit of 12%. What is the cost price of an article marked at Rs 280?

Solution: We have the Marked Price = Rs 280.

Also we have the Discount = 20% of Rs 280.

$= frac{20}{100};times ; 280 = Rs ;56.$

So the selling price = M.P. - Discount

= Rs (280 – 56)

= Rs 224.

Let the cost price = Rs x

Profit = 12% of Rs x

. $large = frac{12}{100};times ; x$

$large = frac{3x}{25}.$

So selling price = cost price + profit

$large = x+ frac{3x}{25}$

$large =frac{25x+3x}{25}$

$large = frac{28x}{25}$

According to the Question

$large frac{28x}{25}=Rs;224$

$large x=224;times ; frac{25}{28} =Rs; 200$ .

Hence the cost price = Rs 200

Illustration 2: A shopkeeper marks his goods at such a price that after allowing a discount of 12.5% for cash payment, he still makes a profit of 10%. ind the marked price of an article which costs him Rs 245.

Solution: We have,

C.P. of the article = Rs 245 and Gain = 10%

So, S.P. = $large frac{100+Gain%}{100}times C.P.$

$large Rightarrow S.P.=Rsleft ( frac{100+10}{100}times 245right )$

$large =Rsleft ( frac{110}{100}times 245right )$

= Rs 269.50

Let the marked price be Rs 100. Then,

Discount allowed = 12.5% of M.P.

$large =frac{12.5}{100}times 100$

= Rs 12.5

So, S.P. of the article = M.P. - Discount

= Rs 100 - Rs 12.5

= Rs 87.5

Thus, When S.P. is Rs 87.5, M.P. = Rs 100

When S.P. is Re 1, M.P. $large =frac{100}{87.5}$

When S.P. is Rs 269.50, M.P. $large =Rsleft (frac{100}{87.5}times 269.50 right )$

= Rs 308

Hence, marked price of the article is Rs 308.

Sample Questions

(More Questions for each concept available in Login)

Question : 1

Namitha offers a discount of 20% on all the items at her shop and still makes a profit of 12%. What is the cost price of an article marked at Rs 280?
A. Rs. 160	B. Rs 180	C. Rs 200	D. Rs 240
Right Option : C
View Explanation

Question : 2

A bicycle marked at Rs 1,500 is sold for Rs 1,350. What is the percentage of the discount?
A. 8%	B. 10%	C. 12%	D. 14.3%
Right Option : B
View Explanation

Question : 3

How much percent more than the C.P. should a manufacturer marks his goods so that after allowing a discount of 20 % on the marked price, he gain 10 %.
A. 137.50 %	B. 135.50 %	C. 136.50 %	D. 138.50 %
Right Option : A
View Explanation