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A shopkeeper marked an item for Rs. 800 and sold the item by allowing $$10\%$$ discount. If he earned a profit of $$20\%$$ in the transaction, then what was the cost price of the item?
The selling price is $$800 \times 0.9 = 720$$ rupees. Since this includes a $$20\%$$ profit, $$1.2 \times CP = 720$$. So the cost price is $$\frac{720}{1.2} = 600$$ rupees.
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