A seller marks an article to gain 26% but allows 4% discount.
Find the price he sells an article bought for N500?
To find the price at which the seller sells an article bought for N500, we can follow these steps:
Step 1: Calculate the markup price
To calculate the markup price, we need to find 26% of the cost price.
Markup = 26% of N500
To find 26% of N500, we can use the following formula:
26% = 26/100 = 0.26
Markup = 0.26 x N500 = N130
Step 2: Calculate the selling price
The selling price is calculated by adding the markup price to the cost price and subtracting the discount.
Selling price = Cost price + Markup - Discount
Cost price = N500
Markup = N130
To calculate the discount, we need to find 4% of the selling price.
Discount = 4% of (Cost price + Markup)
To find 4% of the selling price, we can use the following formula:
4% = 4/100 = 0.04
Discount = 0.04 x (Cost price + Markup) = 0.04 x (N500 + N130) = 0.04 x N630 = N25.20
Selling price = N500 + N130 - N25.20 = N604.80
Therefore, the seller sells the article bought for N500 at a selling price of N604.80 after applying the 26% markup and 4% discount.