Question 72

A shopkeeper pays 12% of the cost price as tax while purchasing an item whose cost is ₹ 500. He wants to earn a profit of 20% after giving a discount of 16% on the marked price. So, the marked price should be:

Solution

Given,

Cost of the item = ₹ 500

Tax% = 12%

Cost price of the shopkeeper = $$500+\frac{12}{100}\times500$$ = ₹ 560

Profit% = 20%

Selling price of the item = $$\frac{120}{100}\times560$$ = ₹ 672

Let the Marked price = M

Discount% = 16%

$$=$$> $$\frac{84}{100}\times \text{M}=672$$

$$=$$> $$\text{M}=800$$

$$\therefore\ $$Marked price = ₹ 800

Hence, the correct answer is Option A

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: