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The marked price of a shirt is Rs. 1,824. The shirt is sold at a discount of 18%. If the profit percentage is 14%, then what is the cost price (in Rs.) of the shirt?
1. Rs. 1,213
2. Rs. 1,125
3. Rs. 1,312
4. Rs. 1,512

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Correct Answer - Option 3 : Rs. 1,312

Given:

The marked price of a shirt is Rs. 1,824

Discount percentage = 18%

Profit percentage is 14%

Formula:

S.P. = M.P. - M.P. × D%

S.P. = C.P. + C.P. × P%

Where, S.P. = Selling Price

M.P. = Mark Price

C.P. = Cost Price

D% = Discount percent

P% = Profit percent

Calculation:

S.P. = (1824 - 1824 × 18/100)

⇒ 1824 - 328.32

⇒ Rs. 1495.68

Now 1495.68 = C.P. + C.P. × 14/100

⇒ 1495.68 = C.P.(1 + 14/100)

⇒ 1495.68 = C.P. × 114/100

⇒ C.P. = 1495.68 × 100/114

⇒ C.P. = Rs. 1312

∴ The cost price of the shirt is Rs. 1312.

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