If the ratio of marked price and selling price of an article is 13:10. Shopkeeper earned 25% profit. If the difference between marked price and cost price of an article is Rs.450. find the selling price of an article.
Correct Answer :
Rs.900
Solution :
The correct option is Rs.900.
Let us solve the problem step-by-step using ratios and basic percentage concepts.
Step 1: Understand the given ratios and relations.
We are given that the ratio of Marked Price (MP) to Selling Price (SP) is:
So, we can express MP and SP in terms of a constant as:
Step 2: Find the Cost Price (CP) in terms of .
The shopkeeper earns a profit of 25%.
The relationship between Selling Price and Cost Price is given by:
Now, substituting into the equation:
Solving for CP:
Step 3: Use the difference between Marked Price and Cost Price to find .
We are given that:
Substitute the values of MP and CP in terms of :
Step 4: Calculate the Selling Price (SP).
Thus, the selling price of the article is Rs.900.
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