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Solutions
Given:
Cost price (CP) of the fan = Rs. x
List price (LP) = CP + 22% of CP = 1.22 × CP
Discount offered = 15% of LP
Profit earned = Rs. 111
Formula Used:
Selling price (SP) = LP - Discount
Discount = 15% of LP = 0.15 × LP
Profit = SP - CP
Solution:
Let the cost price be Rs. x.
List price (LP) = 1.22 × x
Discount = 0.15 × 1.22 × x
Selling price (SP) = LP - Discount
SP = 1.22 × x - 0.15 × 1.22 × x
SP = 1.22 × x (1 - 0.15)
SP = 1.22 × x × 0.85
SP = 1.037 × x
Given profit = Rs. 111
Profit = SP - CP
=> 111 = 1.037 × x - x
=> 111 = 0.037 × x
=> x = 111 / 0.037
=> x ≈ 3000
List Price (LP) = 1.22 × x
LP = 1.22 × 3000
LP = 3660
The list price of the fan is Rs. 3660.