Question

Shopkeeper allows 28% discount on Mark price and still makes profit of 20%. If he gains Rs.30.80 on selling the article. Find the cost price of the article.

1. 154
2. 159
3. 164
4. 147

Answer 1

Correct Answer - Option 1 : 154

Given

Discount = 28%

Profit = 20%

Concept used

Profit and loss

Calculation

Profit = 20%

He gains Rs.30.80 on selling an article 

As per the question

⇒ 20% = 30.80

⇒ 100% = Rs.154