SOLUTION: A seller allows a discount of 5% on watch.
if it discounts at 7% he earns Rs.15 less in profit. What is the MP;
Algebra.Com
Question 1011127: A seller allows a discount of 5% on watch.
if it discounts at 7% he earns Rs.15 less in profit. What is the MP;
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
profit is equal to revenue minus cost.
sale price = retail price minus discount.
at 5% discount, the sale price is equal to retail price minus 5% of retail price.
at 7% discount, the sale price is equal to retail price minus 7% of retail price.
when he sells it at 5% discount, he makes 15 more than when he sells it at 7% discount.
this means that sale price at 5% discount minus sale price at 7% discount = 15.
the difference between the sale price at 5% discount and the sale price at 7% discount is equal to 2% of the retail price.
this means that 2% of the retail price is equal to 15.
this means that the retail price is 15 / 2% = 15 / .02 = 750.
the sale price at 5% discount = 750 - .05 * 750 = 712.5
the sale price at 7% discount = 750 - .07 * 750 = 697.5
in algebraic terms, you would solve it something like this:
r = retail price
s1 = sale price at 5% discount
s2 = sale price at 7% discount
d1 = .05r
d2 = .07r
p1 = profit at 5% discount
p2 = profit at 7% discount
c = cost
s1 = r-d1
s2 = r-d2
since d1 = .05r and d2 = .07r, this leads to:
s1 = r - .05r
s2 = r - .07r
profit at 5% discount = sale price at 5% discount - cost
profit at 7% discount = sale price at 7% discount - cost
since c is the cost, this leads to:
p1 = s1 - c
p2 = s1 - c
since s1 = r-.05r and s2 = r-.07r, this leads to:
p1 = r-.05r-c
p2 = r-.07r-c
since profit at 5% discount is 15 more than profit at 7% discount, this leads to:
p1-p2=15
since p1 = r-.05r-c and p2 = r-.07r-c, this leads to:
(r-.05r-c) - (r-.07r-c) = 15
remove parentheses to get:
r-.05r-c-r+.07r+c = 15
the r and the c cancel out and you are left with:
-.05r+.07r = 15
combine like terms to get:
.02r = 15
solve for r to get r = 15/.02 = 750.
that's the retail price.
the sale price at 5% discount = 750 - .05*750 = 712.5
the sale price at 7% discount = 750 - .07*750 = 697.5
i believe the sale price is the same as what you call the market price.
your solution depends on what market price they are looking for.
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