Question : A dealer offers a discount of 10% on the marked price of an article and still makes a profit of 20%. If the cost price of the article is INR 540, then find the marked price (in INR) of the article.
Option 1: 810
Option 2: 750
Option 3: 720
Option 4: 690
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Correct Answer: 720
Solution :
Given, Cost Price = INR 540, Profit Percentage = 20%, Discount Percentage = 10%
Here cost price is denoted by CP, the selling price is denoted by SP, and MP denotes the marked price.
Profit = Profit Percentage × CP
⇒ Profit = 0.20 × 540 = INR 108
SP = CP + Profit
⇒ SP = 540 + 108 = INR 648
Now, a discount of 10% is given on the marked price, the selling price is 90% of the marked price:
⇒ SP = 0.90 × MP
⇒ 648 = 0.90 × MP
⇒ MP = $\frac{648}{0.90}$
⇒ MP = INR 720
Hence, the correct answer is 720.
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