A shopkeeper marks his goods 40% above the cost price. He allows a discount of 5% for cash payment to his customers. He receives 1064 after paying the discount. His profit is ?->(Show Answer!)

1. A shopkeeper marks his goods 40% above the cost price. He allows a discount of 5% for cash payment to his customers. He receives 1064 after paying the discount. His profit is

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By: anil on 05 May 2019 01.54 am

Let cost price = $$100x$$ 40% of cost price = $$frac{40}{100} * 100x = 40x$$ => Marked price = $$100x + 40x = 140x$$ Discounted amount = $$frac{5}{100} * 140x = 7x$$ => S.P. = $$140x - 7x$$ = 1064 => $$x = frac{1064}{133}$$ = 8 Now, cost price = 8*100 = 800 and selling price = 1064 [given] => Profit = 1064-800 = 264

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