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Solve this problem - 15frih$





saratdear
Solve this math problem for 15frih$. I will give the frih$ to the best explanation. Mind, not just the answer, but the explanation too.

Question:
A cycle merchant allows 25% discount on the marked price of the cycles and still makes a profit of 20%. If he gains Rs 360 (rupees are for Indians, americans, take it as 360$) over the sale of one cycle, find the marked price of the cycle.
[ Hint : First find the Cost Price of a cycle.]
HoboBarticus
Just set everything up:
Marked Price * 0.75 = Retail Price
Wholesale Price * 1.20 = Retail Price
Wholesale Price * 0.20 = Profit

Profit was said to be 360$.

Wholesale Price * 0.20 = 360$
Wholesale Price = 1800$

1800 * 1.20 = Retail Price
Retail Price = 2160$

Marked Price * 0.75 = 2160$
Marked Price = 2880$
saratdear
Congrats HoboBarticus! donated 15frih$ to you.

ur answer was correct, but can u tell me what do you mean by wholesale price and retail price? We learn it here at school like Cost Price, Selling Price, Market price/List price, Discount.

Congrats again!
HoboBarticus
Just set everything up:
Marked/List Price * 0.75 = Selling Price
Cost Price * 1.20 = Selling Price
Cost Price * 0.20 = Profit

Profit was said to be 360$.

Cost Price * 0.20 = 360$
Cost Price = 1800$

1800 * 1.20 = Selling Price
Selling Price = 2160$

Marked/List Price * 0.75 = 2160$
Marked/List Price = 2880$

I think thats it. The wholesale price is how much it costs the store to buy the item. So Selling Price - wholsale will = profit.
tamilparks
i think the contest is over so can you open a new contest like this
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