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After allowing a 20% discount on the Marked Price of a school bag, a shopkeeper makes a profit of 8%. If the cost price of the school bag is Rs. 800, then, what is the Marked Price (in Rs.)?
1. 1060
2. 950
3. 1080
4. 1000

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Correct Answer - Option 3 : 1080

Given:

CP = Cost Price; SP = Selling Price; MP = Marked Price

Discount = 20%

Profit = 8%

CP = Rs. 800

Concept Used:

SP = [(100 – Discount)/100] × MP

SP = CP + Profit

Calculation:

Cost Price = Rs. 800

Selling Price = Rs. (100 + 8)% of 800 = Rs. 864

Suppose, the MP of the school bag is Rs. x

⇒ 80% of x = 864

⇒ (80/100) × x = 864

⇒ x = 1080

∴ The Marked Price of the school bag is Rs. 1080

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