Correct Answer - Option 3 : Rs. 16,666.66 and Rs. 5333.33
Given
Selling price of an article = Rs 8000
Formula Used
Marked price = Selling price/(100 - Discount%) × 100
Cost price = selling price/(100 + profit%) × 100
Calculation
Let the marked price of an article be 100x
Shiva selling price after 20% of discount = 100x - 20% of 100x = 80x
After 40% more discount the selling price = 80x - 40% of 80x = 48x
Shiva's profit = 50%
So, Cost price of an article = (8000/150) × 100 = Rs 5333.33
Marked price of an article = (8000/48) × 100 = Rs 16666.66
∴ The correct answer is Rs 16666.66 and Rs 5333.33