Question

A shopkeeper markes his goods at 40% above the cost price but allows a discount of 5%
for cash payment to his customers . What actual profit does he make , if he receives Rs. 1064
after paying the discount

Answer 1

original cost price -----
selling price = (1.4)(.95)x

1.4(.95)x = 1064
x = 1064/(1.4(.95)) = 800

profit = 1064-800 = 264

check:
first markup = 1.4(800) = 1120
discount of 5% leaves .95(1120) = 1064

Answer 2

264