Math Problem Statement

When an article is sold at 37% discount a shopkeeper suffers 9% loss. But when it is sold at 28% discount, he gets Rs.7072 more than what he got on previous deal. At what price should he sell to get no profit no loss?

Solution

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Math Problem Analysis

Mathematical Concepts

Algebra
Percentage Calculations
Profit and Loss
Discounts

Formulas

Selling Price = Marked Price × (1 - Discount Percentage)
Loss Percentage = (Cost Price - Selling Price) / Cost Price × 100
Profit or Loss Difference = Selling Price (Scenario 2) - Selling Price (Scenario 1)

Theorems

Basic Profit and Loss Theorem

Suitable Grade Level

Grades 9-12