Cost Price (CP): The cost price of the article is ₹850.
Selling Price (SP): After allowing a discount of 15%, the selling price is 85% of the marked price: SP = 0.85x.
Profit Percentage Formula: The formula to calculate the profit percentage is given by:
Profit Percentage = ((Selling Price - Cost Price) / Cost Price) * 100 (Sp-cp) /cp *100
Given Profit Percentage: It's mentioned that the tradesman earns a profit of 20%. So, we can write:
Profit Percentage = 20%.
Substitute Values: Substituting the values, we get:
(0.85x - 850) / 850 = 20 / 100
Solve for 'x':
0.85x - 850 = 0.2 * 850
0.85x - 850 = 170
0.85x = 1020
x = 1020 / 0.85
x = 1200