Question
Download Solution PDFA boy bought a shirt with 10% discount on the labelled price. He sold the shirt for Rs. 1440 with 20% profit on the labelled price. At what price did he buy the shirt?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A boy bought a shirt with 10% discount on the labelled price. He sold the shirt for ₹1440 with 20% profit on the labelled price.
Formula used:
Selling Price (SP) = Labelled Price (LP) × (1 + Profit %/100)
Cost Price (CP) = Labelled Price (LP) × (1 - Discount %/100)
Calculation:
Let the Labelled Price (LP) be ₹x.
Given SP = ₹1440 and Profit % = 20%
1440 = x × (1 + 20/100)
⇒ 1440 = x × 1.2
⇒ x = 1200
Labelled Price (LP) = ₹1200
CP = 1200 × (1 - 10/100)
⇒ CP = 1200 × 0.9 = 1080
∴ The correct answer is option (4).
Last updated on Mar 19, 2025
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