Madan, an electronic goods dealer, bought a DVD player at a discount of 40% on the list price. He then marked up the price by 125%. As there were no buyers, he offered a discount of 44 %. His customer had to pay a sales tax of 20% on this offer price. If his customer finally bought the DVD player for ₹4,320, what was the list price initially? (in ₹)
Question
Madan, an electronic goods dealer, bought a DVD player at a discount of 40% on the list price. He then marked up the price by 125%. As there were no buyers, he offered a discount of 44 %. His customer had to pay a sales tax of 20% on this offer price. If his customer finally bought the DVD player for ₹4,320, what was the list price initially? (in ₹)
Solution
Let's solve this step by step:
Step 1: First, we need to find the price after the sales tax. The customer paid a total of ₹4,320, which includes the 20% sales tax. So, the price before the sales tax was added can be calculated as follows:
4320 / 1.20 = ₹3600
Step 2: Next, we need to find the price before the discount of 44%. This can be calculated as follows:
3600 / (1 - 0.44) = ₹6428.57
Step 3: Then, we need to find the price before the markup of 125%. This can be calculated as follows:
6428.57 / 2.25 = ₹2857.14
Step 4: Finally, we need to find the original list price before the discount of 40%. This can be calculated as follows:
2857.14 / (1 - 0.40) = ₹4761.90
So, the initial list price of the DVD player was approximately ₹4762.
Similar Questions
A marks the price of an article at ₹600 and sells it to B at a discount of %. B then sells it to C at a profit of 25%. C marks up the price and sells it to D at a discount of 10% on the marked-up price, thereby making a profit of 8%. What was the price marked by C before he sold the article to D?₹750₹900₹720₹840
The list price of an article is Rs.65. A customer pays Rs.56.16 for it. He was given two successive discounts, one of them being 10%. The other discount is?
A shopkeeper sells a bicycle at a profit of 11.11%. If he had bought it at 16.66% less and sold it at Rs 400 less, he would have made a profit of 6.66% . What should be the list price of the bicycle in the case he gave a discount of 10% and thereby gained 20% on the transaction?
Omar went shopping for a new video game because of a sale. The price on the tag was $37, but Omar paid $25.90 before tax. Find the percent discount.
A shopkeeper sold a TV set for ₹ 17940 at a discount of 8% and gained 19.6%. If no discount is allowed, what will be his gain percent? 30%24.8%36.4%25%
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.