Given:
Cost price of refrigerator = $11515
Discount rate 16% on its marked price.
Profit = 20%
To find:
The marked price of the refrigerator.
Solution:
The cost price (C.P.) is $11515 and the profit percent is 20%. So, the selling price is:
[tex]S.P.=C.P.+20\%\text{ of }C.P.[/tex]
[tex]S.P.=11515+\dfrac{20}{100}(11515)[/tex]
[tex]S.P.=11515+2303[/tex]
[tex]S.P.=13818[/tex]
Let x be the marked price of the refrigerator. Then,
[tex]S.P.=x-16\%\text{ of }x[/tex]
[tex]13818=x-\dfrac{16}{100}x[/tex]
[tex]13818=x-0.16x[/tex]
[tex]13818=0.84x[/tex]
Divide both sides by 0.84.
[tex]\dfrac{13818}{0.84}=x[/tex]
[tex]16450=x[/tex]
Therefore, the marked price of the refrigerator is $16450.
