Question : A dealer is selling an article at a discount of 5% on the marked price. If the marked price is 12% above the cost price and the article was sold for Rs. 532, then the cost price is (in Rs.):
Option 1: 500
Option 2: 525
Option 3: 505
Option 4: 520
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Correct Answer: 500
Solution :
Given that, Selling price of article = Rs. 532 and discount = 5%
Let the cost price of the article be Rs. $y$.
The marked price is 12% above the cost price,
$\therefore$ Marked price = Rs. $\frac{112y}{100}$
According to the question,
⇒ $\frac{112y}{100}\times\frac{95}{100}=532$
⇒ $y=\frac{532 \times10000}{112 \times 95}$ = Rs. 500
Hence, the correct answer is 500.
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