Confused between marked price , selling price , cost price
$begingroup$
By selling an article at 20% discount off the marked price , a shop keeper still makes 10% profit on his cost . If cost price is $1200 , calculate the marked price of the article .
I learned that marked price is the "base price" on an item before any discount is given.
From my understanding of the definition, marked price and cost price must be the same then? But it's not the same , so what's the difference ?
Selling price is the price after discount have been given and this price is what people have to pay to buy the item ?
Pls help... Thanks ..
arithmetic
asked May 6 '16 at 13:45
user307640user307640
8691719
$endgroup$
add a comment |
$begingroup$
By selling an article at 20% discount off the marked price , a shop keeper still makes 10% profit on his cost . If cost price is $1200 , calculate the marked price of the article .
I learned that marked price is the "base price" on an item before any discount is given.
From my understanding of the definition, marked price and cost price must be the same then? But it's not the same , so what's the difference ?
Selling price is the price after discount have been given and this price is what people have to pay to buy the item ?
Pls help... Thanks ..
arithmetic
asked May 6 '16 at 13:45
user307640user307640
8691719
$endgroup$
$begingroup$
Say I make an object for $100 $(I mean, that's what the materials and labor cost). I mark it for sale at $150$ but ultimately I sell it for $140$. Then the cost price is $100$, the marked price is $150$, and the sale price is $140$. the realized profit is sale price - cost, or $140-100=40$.
$endgroup$
– lulu
May 6 '16 at 13:48
add a comment |
$begingroup$
By selling an article at 20% discount off the marked price , a shop keeper still makes 10% profit on his cost . If cost price is $1200 , calculate the marked price of the article .
I learned that marked price is the "base price" on an item before any discount is given.
From my understanding of the definition, marked price and cost price must be the same then? But it's not the same , so what's the difference ?
Selling price is the price after discount have been given and this price is what people have to pay to buy the item ?
Pls help... Thanks ..
arithmetic
asked May 6 '16 at 13:45
user307640user307640
8691719
$endgroup$
By selling an article at 20% discount off the marked price , a shop keeper still makes 10% profit on his cost . If cost price is $1200 , calculate the marked price of the article .
I learned that marked price is the "base price" on an item before any discount is given.
From my understanding of the definition, marked price and cost price must be the same then? But it's not the same , so what's the difference ?
Selling price is the price after discount have been given and this price is what people have to pay to buy the item ?
Pls help... Thanks ..
arithmetic
arithmetic
asked May 6 '16 at 13:45
user307640user307640
8691719
asked May 6 '16 at 13:45
user307640user307640
8691719
asked May 6 '16 at 13:45
user307640user307640
8691719
asked May 6 '16 at 13:45
user307640user307640
8691719
asked May 6 '16 at 13:45
user307640user307640
8691719
8691719
$begingroup$
Say I make an object for $100 $(I mean, that's what the materials and labor cost). I mark it for sale at $150$ but ultimately I sell it for $140$. Then the cost price is $100$, the marked price is $150$, and the sale price is $140$. the realized profit is sale price - cost, or $140-100=40$.
$endgroup$
– lulu
May 6 '16 at 13:48
add a comment |
$begingroup$
Say I make an object for $100 $(I mean, that's what the materials and labor cost). I mark it for sale at $150$ but ultimately I sell it for $140$. Then the cost price is $100$, the marked price is $150$, and the sale price is $140$. the realized profit is sale price - cost, or $140-100=40$.
$endgroup$
– lulu
May 6 '16 at 13:48
$begingroup$
Say I make an object for $100 $(I mean, that's what the materials and labor cost). I mark it for sale at $150$ but ultimately I sell it for $140$. Then the cost price is $100$, the marked price is $150$, and the sale price is $140$. the realized profit is sale price - cost, or $140-100=40$.
$endgroup$
– lulu
May 6 '16 at 13:48
$begingroup$
Say I make an object for $100 $(I mean, that's what the materials and labor cost). I mark it for sale at $150$ but ultimately I sell it for $140$. Then the cost price is $100$, the marked price is $150$, and the sale price is $140$. the realized profit is sale price - cost, or $140-100=40$.
$endgroup$
– lulu
May 6 '16 at 13:48
add a comment |
3 Answers
3
active
oldest
votes
$begingroup$
Let S, M and C stand for selling , market and cost prize.
0) C = 1200
1)S = 80% of M, I.e. S = (8/10)M.
2) Profit : 10% of Cost, I.e. P = (1/10) 1200 = 120.
S = C + Profit = 1320, and this gives using 1):
S = (8/10)M = 1320, solve for M:
M = (10/8) 1320 = 13 200/8 = 1650.
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
$endgroup$
add a comment |
$begingroup$
80%×C.P + C.P = S.P
0.8× 1200 + 1200 =$3360 which is my Selling Price.
This S.P represents only 80% because l got a 20%discount.
If l didn't get a discount, then I would have had to pay the full 100% which would be my marked price.
Since 80% =3360
Therefore 100% =M.P
Cross multiply 0.8 × MP=1×3360
Therefore the marked price is 3360÷0.8 = $4200
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
$endgroup$
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
add a comment |
$begingroup$
$frac{1200}{80} times 110=1650$ which is marked price here we add $10$ in $100$ because of $10%$ profit and reduce $20$ from $100$ because of $20%$ discount
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
answered Sep 5 '17 at 19:02
ManishManish
1
$endgroup$
add a comment |
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3 Answers
3
active
oldest
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3 Answers
3
active
oldest
votes
active
oldest
votes
active
oldest
votes
$begingroup$
Let S, M and C stand for selling , market and cost prize.
0) C = 1200
1)S = 80% of M, I.e. S = (8/10)M.
2) Profit : 10% of Cost, I.e. P = (1/10) 1200 = 120.
S = C + Profit = 1320, and this gives using 1):
S = (8/10)M = 1320, solve for M:
M = (10/8) 1320 = 13 200/8 = 1650.
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
$endgroup$
add a comment |
$begingroup$
Let S, M and C stand for selling , market and cost prize.
0) C = 1200
1)S = 80% of M, I.e. S = (8/10)M.
2) Profit : 10% of Cost, I.e. P = (1/10) 1200 = 120.
S = C + Profit = 1320, and this gives using 1):
S = (8/10)M = 1320, solve for M:
M = (10/8) 1320 = 13 200/8 = 1650.
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
$endgroup$
add a comment |
$begingroup$
Let S, M and C stand for selling , market and cost prize.
0) C = 1200
1)S = 80% of M, I.e. S = (8/10)M.
2) Profit : 10% of Cost, I.e. P = (1/10) 1200 = 120.
S = C + Profit = 1320, and this gives using 1):
S = (8/10)M = 1320, solve for M:
M = (10/8) 1320 = 13 200/8 = 1650.
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
$endgroup$
Let S, M and C stand for selling , market and cost prize.
0) C = 1200
1)S = 80% of M, I.e. S = (8/10)M.
2) Profit : 10% of Cost, I.e. P = (1/10) 1200 = 120.
S = C + Profit = 1320, and this gives using 1):
S = (8/10)M = 1320, solve for M:
M = (10/8) 1320 = 13 200/8 = 1650.
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
answered Jun 2 '17 at 9:48
Peter SzilasPeter Szilas
12k2822
12k2822
add a comment |
add a comment |
$begingroup$
80%×C.P + C.P = S.P
0.8× 1200 + 1200 =$3360 which is my Selling Price.
This S.P represents only 80% because l got a 20%discount.
If l didn't get a discount, then I would have had to pay the full 100% which would be my marked price.
Since 80% =3360
Therefore 100% =M.P
Cross multiply 0.8 × MP=1×3360
Therefore the marked price is 3360÷0.8 = $4200
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
$endgroup$
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
add a comment |
$begingroup$
80%×C.P + C.P = S.P
0.8× 1200 + 1200 =$3360 which is my Selling Price.
This S.P represents only 80% because l got a 20%discount.
If l didn't get a discount, then I would have had to pay the full 100% which would be my marked price.
Since 80% =3360
Therefore 100% =M.P
Cross multiply 0.8 × MP=1×3360
Therefore the marked price is 3360÷0.8 = $4200
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
$endgroup$
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
add a comment |
$begingroup$
80%×C.P + C.P = S.P
0.8× 1200 + 1200 =$3360 which is my Selling Price.
This S.P represents only 80% because l got a 20%discount.
If l didn't get a discount, then I would have had to pay the full 100% which would be my marked price.
Since 80% =3360
Therefore 100% =M.P
Cross multiply 0.8 × MP=1×3360
Therefore the marked price is 3360÷0.8 = $4200
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
$endgroup$
80%×C.P + C.P = S.P
0.8× 1200 + 1200 =$3360 which is my Selling Price.
This S.P represents only 80% because l got a 20%discount.
If l didn't get a discount, then I would have had to pay the full 100% which would be my marked price.
Since 80% =3360
Therefore 100% =M.P
Cross multiply 0.8 × MP=1×3360
Therefore the marked price is 3360÷0.8 = $4200
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
answered Mar 21 '17 at 15:20
Royston McleanRoyston Mclean
111
111
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
add a comment |
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
$begingroup$
Wow, that's off by more than a factor of two. There are mistakes not only in the first formula but also in the arithmetic on the numbers.
$endgroup$
– David K
Sep 5 '17 at 19:49
add a comment |
$begingroup$
$frac{1200}{80} times 110=1650$ which is marked price here we add $10$ in $100$ because of $10%$ profit and reduce $20$ from $100$ because of $20%$ discount
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
answered Sep 5 '17 at 19:02
ManishManish
1
$endgroup$
add a comment |
$begingroup$
$frac{1200}{80} times 110=1650$ which is marked price here we add $10$ in $100$ because of $10%$ profit and reduce $20$ from $100$ because of $20%$ discount
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
answered Sep 5 '17 at 19:02
ManishManish
1
$endgroup$
add a comment |
$begingroup$
$frac{1200}{80} times 110=1650$ which is marked price here we add $10$ in $100$ because of $10%$ profit and reduce $20$ from $100$ because of $20%$ discount
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
answered Sep 5 '17 at 19:02
ManishManish
1
$endgroup$
$frac{1200}{80} times 110=1650$ which is marked price here we add $10$ in $100$ because of $10%$ profit and reduce $20$ from $100$ because of $20%$ discount
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
answered Sep 5 '17 at 19:02
ManishManish
1
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
edited Sep 5 '17 at 19:27
Siong Thye Goh
104k1468120
104k1468120
answered Sep 5 '17 at 19:02
ManishManish
1
answered Sep 5 '17 at 19:02
ManishManish
1
answered Sep 5 '17 at 19:02
ManishManish
1
1
add a comment |
add a comment |
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$begingroup$
Say I make an object for $100 $(I mean, that's what the materials and labor cost). I mark it for sale at $150$ but ultimately I sell it for $140$. Then the cost price is $100$, the marked price is $150$, and the sale price is $140$. the realized profit is sale price - cost, or $140-100=40$.
$endgroup$
– lulu
May 6 '16 at 13:48