Question

The cost price of an article is Rs. x. It is marked up by 100 percent and it is sold at Rs. 420 after giving 30 percent discount. What is the value of x (in Rs.)?
1. 375
2. 325
3. 300
4. 400

Answer 1

Correct Answer - Option 3 : 300

Given:

Cost price of article = Rs. x

Mark up percentage = 100%

Selling price = Rs. 420

Discount percentage = 30%

Concept used:

MP × (100 - d)% = SP

Calculation:

Marked price = CP + CP × 100% = 2CP

Marked price = 2x

2x × (100 - 30)% = 420

2x × 70% = 420

x = 210 × 100/70 = Rs. 300

∴ The value of x is Rs. 300.