Goods are marked 40% above cost price but 5% discount is given.
Therefore, total profit = (40 - 5)%
= 35%
Let the cost price be 'x.'
So, (35% of x) + x = 1064
([tex] \frac{35}{100} [/tex]*x) + x = 1064
[tex] \frac{7x}{20} [/tex] + x = 1064
[tex] \frac{7x}{20} + \frac{20x}{20} [/tex] = 1064
[tex] \frac{27x}{20} [/tex] = 1064
Therefore:
27x = 1064*20
27x = 21,280
x = [tex] \frac{21280}{27} [/tex]
x = Rupees 788.14
Cost price is Rs. 788.14
Profit = 35% of 788.14
[tex] \frac{35}{100}*788.14 [/tex]
Total profit = Rupees 275.849