A shopkeeper allows 23% commission in his advertised price and still makes a profit of 10%. If he gains Rs. 56 on one item, find his advertised price.

Question

Philoid · Accepted Answer

Let advertised price be X

Commission is 23% on advertised price

Selling price = …(i)

Given profit = 56

Profit % = 10

C.P. = 560

Profit = S.P. – C.P. = 56

S.P. = 560+56

S.P. = 616/-

From equation (i)

X = 800/-