Question

A shopkeeper sells a table for Rs. 720 after allowing a 20% discount on its marked price. If he had not allowed for any discount he would have earned a profit of 50% on the cost price. Find the cost price of the table.

1. Rs. 900
2. Rs. 960
3. Rs. 600
4. Rs. 1350

Answer 1

Correct Answer - Option 3 : Rs. 600

Given:

SP of the table = Rs. 720

Formula used:

Profit% = (Profit/Cost Price) × 100

Calculation:

SP of the table = Rs. 720

MP of the table = Rs. 720 × [100/80] = Rs. 900

CP of the table = Rs. 900 × [100/150] = Rs. 600

∴ The cost price of the table is Rs. 600.