Cost price of an article is Rs.100 and discount given on the article is Rs.4 more than the profit earned on it. If ratio of selling price to marked price of the article is 41 : 50 then find the discount offered
Question
Cost price of an article is Rs.100 and discount given on the article is Rs.4 more than the profit earned on it. If ratio of selling price to marked price of the article is 41 : 50 then find the discount offered
Solution
Step 1: Let's denote the profit as 'P'. According to the problem, the discount given is P + 4.
Step 2: The selling price (SP) of the article is the cost price (CP) plus the profit, i.e., SP = CP + P = 100 + P.
Step 3: The marked price (MP) of the article is the selling price plus the discount, i.e., MP = SP + Discount = 100 + P + P + 4 = 100 + 2P + 4.
Step 4: According to the problem, the ratio of the selling price to the marked price is 41 : 50. So, we can write this as SP/MP = 41/50.
Step 5: Substituting the values of SP and MP from steps 2 and 3 into step 4, we get (100 + P) / (100 + 2P + 4) = 41/50.
Step 6: Solving this equation for P, we get P = 18.
Step 7: Substituting P = 18 into the equation for the discount from step 1, we get Discount = P + 4 = 18 + 4 = 22.
So, the discount offered on the article is Rs.22.
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