Hello student,
When wants to make profit by selling the milk at the same cost price and still wants a profit of 10% then the milk in the product is actually 0.9 ratio or 90% and water is mixed up to 10%.
Hope it helps...
Question : A dealer marks an article 60% above the cost price and sells it to a customer allowing two successive discounts of 10% and 20% on the marked price. If he gains INR 1,064 in the transaction, the cost price (in INR) of the article is:
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