A shopkeeper allows 18% discount on the marked price of an article and still makes a profit of 23%. If he gains ₹18.40 on the sale of the article, then what is the marked price of the article?
Profit = 23%
23% = Rs.18.40
Cost price(100%) = $$\frac{18.4}{23} \times 100$$ = 80
Selling price = 80 $$\times \frac{123}{100} = 98.4
Discount = 18%
So, Marked price = $$\frac{98.4}{82} \times 100$$ = Rs.120
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