Question

A whole-seller after allowing a successive discount of 20% and 10% on the list price of a product get a profit of Rs. 120. find the cost price of the product, If list price of the product is Rs. 1000.
1. Rs. 400
2. Rs. 440
3. Rs. 600
4. Rs. 500
5. None of these

Answer 1

Correct Answer - Option 3 : Rs. 600

Given:

A whole-seller after allowing a successive discount of 20% and 10% on the list price of a product get a profit of Rs. 120

 

Formula Used:

Cost price = Selling price - profit

 

Calculation:

List price or marked price = Rs. 1000

⇒ Selling price of product = 1000 × (0.8) × (0.9) = Rs. 720

⇒ Cost price of product = Rs. (720 - 120) = Rs. 600