At a store everything is sold to 10% less than the price marked. If the owner buys a product for Rs. 90. What price should he mark them, if he wants to make a 10% profit on his cost?
Answer: 101
Explanation
Step 1: Let the marked price be Rs. x.
Since items are sold at 10% less than the marked price,
The selling price (SP) = x−10% of x=0.9x
Step 2: Desired profit = 10% on cost
Cost price (CP) = Rs 90
Profit = 10% of 90 = Rs 9
So, desired Selling Price (SP) =Rs 90 + Rs9 = Rs 99
Step 3: Set up the equation
We already said that the selling price is 0.9x, so:
Step 4: Solve for x
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