Question 58

The cost price of an article is ₹280. A shopkeeper sells it by allowing 16% discount on its marked price and still gains 20%. What is the marked price(in ₹) of the article?

Solution

The cost price of article = ₹280

Gain = 20%

Selling price of the article = $$\frac{120}{100}\times$$280

= ₹336

Let the marked price of the article = M

Discount = 16%

Selling price of the article = $$\frac{84}{100}$$M

$$\Rightarrow$$ 336 = $$\frac{84}{100}$$M

$$\Rightarrow$$ M = 400

Marked price of the article = ₹400

Hence, the correct answer is Option A

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