Question

A dealer allows his customers a discount of 25% and still gains 25%. If an article costs ₹1600 to the dealer, then its marked price (nearest to one rupee) is:
1. ₹2000
2. ₹2050
3. ₹2667
4. ₹2600

Answer 1

Correct Answer - Option 3 : ₹2667

Given:

A dealer allows his customers a discount of 25% and still gains 25%.

an article costs ₹1600 to the dealer.

Formula used:

(Marked price)/(Cost price) = (100 + profit%)/(100 - discount%)

Calculation:

Marked price/1600 = 125/75

⇒ Marked price = (5 × 1600)/3

⇒ 8000/3 = Rs. 2666.66 

∴ Marked price (nearest to one rupee) is  Rs. 2667.