The shopkeeper got 17% profit even after seeing them at 7% discount. What was the cost of the pressure cooker?

To determine the cost price of the pressure cooker, let's break this down step by step.

### Problem Breakdown:
- The shopkeeper gives a **7% discount** on the marked price.
- After giving the discount, the shopkeeper still makes a **17% profit** on the cost price.
  
Let:
- \( C \) be the cost price of the pressure cooker.
- \( M \) be the marked price of the pressure cooker.

### Step 1: Relationship between profit and cost price
Given that the shopkeeper makes a 17% profit on the cost price, we can write:
\[
\text{Selling Price} = C + 0.17C = 1.17C
\]

### Step 2: Relationship between discount and marked price
Since the shopkeeper gives a 7% discount on the marked price, the selling price is:
\[
\text{Selling Price} = M - 0.07M = 0.93M
\]

### Step 3: Equating the two expressions for the selling price
Now, equate the two expressions for the selling price:
\[
1.17C = 0.93M
\]

### Step 4: Finding the relationship between cost price and marked price
Solving for \( M \), we get:
\[
M = \frac{1.17C}{0.93} = 1.258C
\]

### Step 5: Conclusion
The marked price is 1.258 times the cost price. Without additional information such as the actual selling or marked price, the exact value of the cost price \( C \) cannot be determined from this information alone. If you have more details, such as the selling price or marked price, I can help you calculate it further.

Do you want to go into more detail, or do you have more information? 

### Follow-up Questions:
1. What was the marked price of the pressure cooker?
2. Can you provide the selling price after the discount?
3. Is there any additional information about the original cost price?
4. How would the profit change if the discount percentage were increased?
5. What would the cost be if no discount were applied?

### Tip: Always remember that the selling price depends on both the profit margin and any discounts applied to the marked price.

Determine the cost price of a pressure cooker where the shopkeeper makes a 17% profit after offering a 7% discount on the marked price. This problem involves key concepts of profit and loss, discounts, and algebra, suitable for students in Grades 9-10.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation