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The cost price of smartphone is Rs. 15,000. The retailer gave 20% discount on the marked price. If phone is sold at 20% profit, find the marked price of the smartphone. 
1. Rs. 25,000
2. Rs. 30,500
3. Rs. 22,500
4. Rs. 17,500

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Correct Answer - Option 3 : Rs. 22,500

Given:

The cost price of smartphone is Rs. 15,000.

The retailer gave 20% discount on the marked price.

Phone is sold at 20% profit.

Concepts used:

M.P. = S.P. + Discount

Discount % = Discount/M.P. × 100

Profit % = Profits/C.P. × 100

Profits = S.P. – C.P.

Calculation:

C.P. of smartphone = Rs. 15,000

Let M.P. of smartphone be Rs. x.

Discount % = 20

⇒ {(x – S.P.)/x} × 100 = 20

⇒ S.P. = 4x/5

Profit % = 20

⇒ {(4x/5) – 15,000)/15,000} × 100 = 20

⇒ x = Rs. 22,500

M.P. of smartphone is Rs. 22,500.

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