Question

An article is sold by giving a discount of 30% on its marked price. If there is a gain of 20%, and the cost price of the article is Rs.840, then the marked price of the article is∶ 
1. Rs.1,440
2. Rs.1,240
3. Rs.1,260
4. Rs.1,460

Answer 1

Correct Answer - Option 1 : Rs.1,440

Given:

Discount on MRP is 30% and shopkeeper gain 20%.

C.P = Rs.840

Formula Used:

Discount % = (M.R.P – S.P)/M.R.P × 100

Profit % = (S.P – C.P)/C.P × 100

Where, M.R.P = Marked price, S.P = Selling Price, C.P = Cost Price

Calculation:

Let marked price be Rs. 100x then Discount be Rs. 30x.

According to the question:

S.P is 100x – 30x = 70x

Profit % = (S.P – C.P)/C.P × 100

⇒ 20 = (70x – 840)/840 × 100

⇒ 70x = 1008

S.P is 1008 then marked price,

⇒ [(1008/70x) × 100x]

⇒ 1440

∴ The value of the marked price of the article is Rs. 1440.