Question

An article marked up 30% higher than its cost price but it is sold at a discount of X%. Then the shopkeeper gain 17%. what would be the selling price of the article whose cost price is 500 and sold at (X + 5)% profit?
1. 575
2. 675
3. 775
4. 875

Answer 1

Correct Answer - Option 1 : 575

Given:

The marked price of an article is 30% above the cost price

Calculation:

Let us assume cost price of article is C

⇒ Selling price of article = (1.3C) × (100 - X)/100

⇒ The selling price of article = 1.17C

⇒ (1.3C) × (100 - X)/100 =  1.17C

⇒ 130 - 1.3X = 117

⇒ X = 10%

⇒ The selling price of another article = 500 × {100 + (X + 5)} = 500 × (100 + 15) = 575

∴ The required result will be 575.