## Question

Download Solution PDF# A retailer marks up his goods by 150% and offers a 40% discount. What will be the selling price if the cost price is ₹ 1,600?

## Answer (Detailed Solution Below)

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## Detailed Solution

Download Solution PDF**Given:**

Cost Price (CP) = ₹1,600

Markup = 150%

Discount = 40%

**Formula used:**

Selling Price (SP) = Marked Price (MP) - Discount

MP = CP + (Markup% of CP)

Discount = Discount% of MP

**Calculation:**

MP = 1600 + (150% of 1600)

⇒ MP = 1600 + (1.5 × 1600)

⇒ MP = 1600 + 2400

⇒ MP = 4000

Discount = 40% of 4000

⇒ Discount = 0.4 × 4000

⇒ Discount = 1600

SP = MP - Discount

⇒ SP = 4000 - 1600

⇒ SP = 2400

**∴ The correct answer is option 1.**

Last updated on Oct 30, 2024

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