A shopkeeper buys an item for 2000 and marks it up by 50% to set the marked price. He then offers a 20% discount on the marked price. What is the profit earned by the shopkeeper?
To determine the shopkeeper's profit, we must first calculate the selling price after applying a markup and then a discount.
1. Determine the Marked Price:
The item's cost price (CP) is ₹2000. A 50% markup is applied.
Marked Price (MP) = Cost Price + (Markup Percentage × Cost Price)
$ = 2000 + \frac{50}{100} \times 2000 = 2000 + 1000 = ₹3000 $
2. Apply the Discount:
A 20% discount is offered on the marked price.
Selling Price (SP) = Marked Price - (Discount Percentage × Marked Price)
$ = 3000 - \frac{20}{100} \times 3000 = 3000 - 600 = ₹2400 $
3. Calculate the Profit:
Profit = Selling Price - Cost Price
$ = 2400 - 2000 = ₹400 $
Final Result:
The shopkeeper's profit is ₹400.
A trader offers a discount of 20% on a product but still makes a profit of 10%. What is the marked price of the product if the cost price is Rs.8000?
A shopkeeper buys an item for Rs.2800 and sells it at a 15% profit. What is the selling price?
A television is sold for Rs.44,000 at a profit of 10%. What is the cost price?