If the cost price of an article is 79 frac{2} | vedclass

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Question

(B) Let the marked price $(MP)$ be $700x$.
Given that the cost price $(CP)$ is $79 \frac{2}{7} \%$ of $MP$,we have $CP = \frac{555}{700} 	imes 700x

Vedclass · Accepted Answer

Quantity $I < $ Quantity $II$

Vedclass · Answer

(B) Let the marked price $(MP)$ be $700x$.
Given that the cost price $(CP)$ is $79 \frac{2}{7} \%$ of $MP$,we have $CP = \frac{555}{700} 	imes 700x = 555x$.
The discount is $Rs. \,68$,so the selling price $(SP)$ is $700x - 68$.
Since there is a profit of $20 \%$,$SP = CP 	imes (1 + \frac{20}{100}) = 555x 	imes 1.2 = 666x$.
Equating the two expressions for $SP$: $666x = 700x - 68$.
$34x = 68$,which gives $x = 2$.
Therefore,Quantity $I$ $(CP)$ $= 555 	imes 2 = 1110$.
Quantity $II = 1200$.
Since $1110 < 1200$,Quantity $I < $ Quantity $II$.

If the cost price of an article is $79 \frac{2}{7} \%$ of the marked price and there is a discount of $Rs. \,68$ on the marked price,resulting in a profit of $20 \%$,find the cost price (Quantity $I$) and compare it with a given value (Quantity $II = 1200$).

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