Question : A discount of 20% is given on the marked price of a cycle, and still, there is a profit of 20%. If the profit is INR 800, find the marked price of the cycle.
Option 1: INR 4,000
Option 2: INR 5,800
Option 3: INR 4,800
Option 4: INR 6,000
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Correct Answer: INR 6,000
Solution :
Profit = INR 800
Profit percentage = 20% of the cost price
20% of the cost price = INR 800
⇒ Cost price = $\frac{800}{0.2}$ = INR 4000
Selling price = Cost price + Profit = 4000 + 800 = INR 4800
Discount = 20% of marked price
⇒ 80% of marked price = INR 4800
⇒ Marked price = $\frac{4800}{0.8}$ = INR 6000
Hence, the correct answer is INR 6000.
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