Question:
What price should Aslam mark on a pair of shoes which costs him Rs 1200 so as to gain 12% after allowing a discount of 16%?
Solution:
Given,
CP of the pair of shoes $=$ Rs. 1470
Gain $=12 \%$
Discount $=16 \%$
So, $S P=$ Rs. $\left(\frac{100+\text { Gain }}{100} \times C P\right)$
$=$ Rs. $\left(\frac{100+12}{100} \times 1200\right)$
$=$ Rs. 1344
Now,
SP of the pair of shoes $=$ Rs. 1344
Discount $=16 \%$
So, $\mathrm{MP}=$ Rs. $\left(\frac{100 \times \mathrm{SP}}{100-\text { Discount } \%}\right)$
$=$ Rs. $\left(\frac{100 \times 1344}{100-16}\right)=$ Rs. 1600
Aslam should sell the pair of shoes for Rs. 1600 .