Question : A cycle dealer offers a discount of 10% and still makes a profit of 26%. What does he pay for a cycle whose marked price is Rs. 840?
Option 1: Rs. 600
Option 2: Rs. 650
Option 3: Rs. 700
Option 4: Rs. 750
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Correct Answer: Rs. 600
Solution :
Given: Discount percentage = 10%, gain percentage = 26% and marked price (MP) = Rs. 840
So, the selling price (SP)
= $\frac{\text{Marked Price}×(100-\text{Profit%)}}{100}$
= $\frac{840(100-10)}{100}$
= Rs. 756
To gain 26%,
Cost price = $\frac{\text{Selling Price} × 100}{100+\text{Gain%}}=\frac{756×100}{100+26}$ = Rs. 600
Hence, the correct answer is Rs. 600.
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