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A man marked the price of an article at Rs. 3200. For paying cash, he gave a discount of 15% on the article and still made a profit of 13.33%. Find the cost price of the article?
1. Rs. 2200
2. Rs. 2800
3. Rs. 2400
4. Rs. 2100

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Correct Answer - Option 3 : Rs. 2400

Given:

Marked price = Rs. 3200

Discount % = 15%

Profit% = 13.33% = (40/3)%

Formula used:

CP/MP = (100 - Discount %)/(100 + Profit%)

Calculation:

∵ CP/MP = (100 - Discount %)/(100 + Profit%)

⇒ CP/3200 = (100 - 15)/(100 + 40/3)

⇒ CP/3200 = 85/[(300 + 40)/3]

⇒ CP/3200 = (85 × 3)/340

⇒ CP = (85 × 3 × 3200)/340

⇒ CP = Rs. 2400

∴ The cost price of an article is Rs. 2400.

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