Question
Download Solution PDFA smart TV was purchased for Rs. 158000. Its price was marked up by 15%. It was sold at a discount of 10% on the marked price. What was the profit percent of the smart TV?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price of the smart TV = Rs. 158000
Markup percentage = 15%
Discount percentage = 10%
Formula Used:
Marked Price = Cost Price × (1 + Markup Percentage/100)
Selling Price = Marked Price × (1 - Discount Percentage/100)
Profit Percentage = [(Selling Price - Cost Price)/Cost Price] × 100
Calculation:
Marked Price = 158000 × (1 + 15/100)
⇒ Marked Price = 158000 × 1.15
⇒ Marked Price = 181700
Selling Price = 181700 × (1 - 10/100)
⇒ Selling Price = 181700 × 0.9
⇒ Selling Price = 163530
Profit Percentage = [(163530 - 158000)/158000] × 100
⇒ Profit Percentage = (5530/158000) × 100
⇒ Profit Percentage = 3.5%
Profit Percentage of the smart TV = 3.5%
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