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June 25th, 2018, 11:08 AM   #1
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Why equating CP to SP/1.35?

A tradesman gives 4% discount on the marked price and gives 1 article free for buying every 15 articles and thus gains 35%. The marked price is above the cost price by:

Ans is 50%

Solution: Let the Marked Price (MP) = 100;

Selling Price, SP = 4% discount on MP = 96;

He effectively sells 16 for the cost of 15; so the cost of one article is 15/16 SP = 90.

This gives his gain of 35%, so (SP - CP)/CP = 0.35;

CP = SP/1.35 = 66.66

(MP - CP)/CP = 0.5

I didn't understand how is this equation is written: CP= SP/1.35? (or) Why equating CP to SP/1.35?

Last edited by skipjack; June 29th, 2018 at 08:01 AM.
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June 25th, 2018, 02:24 PM   #2
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200 * 1.35 = 270 : cost 200 sold at 35% profit

270 / 1.35 = 200
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June 26th, 2018, 02:09 AM   #3
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Quote:
Originally Posted by Denis View Post
200 * 1.35 = 270 : cost 200 sold at 35% profit

270 / 1.35 = 200
Can you describe in words. Please.
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June 26th, 2018, 04:34 AM   #4
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The "cost price" is CP, the "marked price" is MP, and the final "selling price" is SP.

"A tradesman gives 4% discount on the marked price and gives 1 article free for buying every 15 articles and thus gains 35%."

Do you understand what is meant by such things as "cost price" and "selling price"? The "cost price" is the amount the tradesman paid for an item that he then sells for the "selling price". The tradesman's profit is the difference between the two prices: profit is SP- CP. Equivalently, his selling price is the cost price plus his profit.

He gains a 35% profit on the cost price- that is, his selling price is the cost price plus 35% of the cost price: SP= CP+ 0.35CP= 1.35 CP. Dividing both sides of SP= 1.35 CP by 1.35, that is the same as CP= SP/1.35.
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June 26th, 2018, 05:50 AM   #5
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Example:
selling price = 300 + 12% tax
tax = 300 * .12 = 36
so selling price = 300 + 36 = 336

This is a shortcut:
selling price = 300 * 1.12 = 336
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June 26th, 2018, 03:14 PM   #6
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Let CP be the cost price of each article and MP be its marked price.

The tradesman bought 16 articles for 16CP and sold them for 15MP(1 - 0.04) in total.

As the 35% gain means that the articles were sold for a total of 16CP(1 + 0.35),

15MP(1 - 0.04) = 16CP(1 + 0.35), and so MP/CP = $\displaystyle \small\frac{16(1 + 0.35)}{15(1 - 0.04)}$ = 1.50.

Hence MP is 50% more than CP.
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June 29th, 2018, 12:09 AM   #7
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Quote:
Originally Posted by Country Boy View Post
He gains a 35% profit on the cost price- that is, his selling price is the cost price plus 35% of the cost price: SP= CP+ 0.35CP= 1.35 CP. Dividing both sides of SP= 1.35 CP by 1.35, that is the same as CP= SP/1.35.
Great logic, but you forget to include discount 4%. Please reply again with proper answer.
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June 29th, 2018, 01:00 AM   #8
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The discount wasn't forgotten. It was taken into account in your original post, where you stated "SP = 4% discount on MP = 96".
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June 29th, 2018, 01:36 AM   #9
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Quote:
Originally Posted by skipjack View Post
The discount wasn't forgotten. It was taken into account in your original post, where you stated "SP = 4% discount on MP = 96".
But country boy written another formula:

SP= CP+ 0.35CP= 1.35 CP.

Just tell how many SP values can obtained from my question?
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June 29th, 2018, 08:16 AM   #10
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The original question gives neither the MP nor the CP, so SP can't be evaluated,
but the stated gain of 35% implies that SP = CP + (35/100)CP = 1.35CP.

The question tells you the same SP = MP - (4/100)MP, but this can't be evaluated unless a value is assumed for MP. It isn't necessary to do that in order to answer the question.

The question lets you write the SP is terms of the CP or in terms of the MP, which means that you can relate the MP to the CP without knowing or assuming any of the prices.
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