Question

Cost price of a shirt is Rs. 2000. Shopkeeper marks a price on a shirt to gain 15% but he allowed a discount of 8%. Find the marked price.
1. Rs. 2500
2. Rs. 2300
3. Rs. 3500
4. Rs. 4500

Answer 1

Correct Answer - Option 1 : Rs. 2500

Given:

Cost price = Rs. 2000

Selling price = cost price + 15% of 2000

Discount = 8%

Formula used:

Profit = selling price – cost price

Selling price = marked price – discount

Calculation:

Let the market price a shirt is Rs. x

Selling price = Rs 2000 + Rs. 300

⇒ Rs. 2300

Selling price = x – 8% of x

⇒ 92x/100

⇒ 92x/100 = 2300

⇒ x = (2300 × 100)/92

⇒ x = Rs. 2500

Hence, marked price of a shirt is Rs. 2500.