Question

The marked price of an article is Rs. 1500. A shopkeeper sells it by giving 20% discount on its marked price. If the cost price of the article is Rs. 991, then his profit (in Rs.) is:
1. 209
2. 189
3. 229
4. 319

Answer 1

Correct Answer - Option 1 : 209

Given:

The marked price of an article = Rs. 1500

Discount = 20%

CP = Rs. 991

Formula used:

SP = MP × (100 – discount%)/100

Profit = SP – CP

Calculation:

According to the question

SP = 1500 – (100 – 20)/100

⇒ (1500 – 80/100)

⇒ SP = Rs. 1200

Now,

Profit = 1200 – 991

⇒ 209

∴ His profit is 209