SOLUTION: The Marked price of an article is 50% above Cost price. When Marked price is increased by 20% & Selling price is increased by 20%, the profit doubles. If original Marked price is 3
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Question 1049587: The Marked price of an article is 50% above Cost price. When Marked price is increased by 20% & Selling price is increased by 20%, the profit doubles. If original Marked price is 300, then what is the original Selling price ? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! The Marked price of an article is 50% above Cost price.
When Marked price is increased by 20% & Selling price is increased by 20%, the profit doubles.
If original Marked price is 300, then what is the original Selling price ?
:
let x = the cost price
then
1.5x = 300
x = 300/1.5
x = $200 is the cost price
:
20% increase in marked price: 1.2(300) = $360
Another 20% increase to obtain the selling price: 1.2(360) = $432
"the profit doubles. then what is the original Selling price ?"
total profit (doubled): 432 - 200 = $232 (232) = 116
200 + 116 = $316 is the original selling price
