Question: A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170? [NICL (AO) 2014]
Options:
A) Rs. 200
B) Rs. 220
C) Rs. 240
D) Rs. 260
E) Rs. 280
Show Answer
Answer:
Correct Answer: C
Solution:
- $ SP=\frac{(100+20)\times 170}{100}=\frac{120\times 17}{10}=Rs.,204 $
Now, marked price $ -15 $ % of marked price = SP
Let marked price be Rs. x.
Thus, $ x-\frac{x\times 15}{100}=204 $
$ \Rightarrow $ $ \frac{85x}{100}=204 $
$ \Rightarrow $ $ x=\frac{204\times 100}{85}=\frac{204\times 20}{17}=12\times 20=240 $
$ \therefore $ Marked price = Rs. 240