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