A shopkeeper allows 23% commission on his advertised price

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A shopkeeper allows 23% commission on his advertised price and still makes a profit of 10%. If he gains $ 56 on one item, his advertised price of the item, (in $) is

Let the advertised price be y .

⇒ S.P. =	77y
	100

⇒ C.P. =			77y	- 56
			100

∴		77y - 5600	×	110	=	77y
		100		100		100

⇒		77y - 5600	×	77y	=	7y
		100		110		10

⇒ 77y – 5600 = 70y
⇒ 7y = 5600
⇒ y = 800