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Question : A man offers a 40% discount on an item which has been marked 50% above the cost price. If the selling price of the item is INR 1,305, then the cost price is:

Option 1: INR 1,360

Option 2: INR 1,450

Option 3: INR 1,680

Option 4: INR 1,560


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 20th Jan, 2024

Correct Answer: INR 1,450


Solution : Selling price = INR 1,305
Selling price = Marked price – Discount
⇒ Selling price = Marked Price – $\frac{40}{100}$ × Marked price
⇒ Marked price = $\frac{100}{(100-40)}\times 1305$ = INR 2175
Marked price = 1.5 × Cost price
⇒ Cost price = $\frac{1}{1.5}\times 2175$
⇒ Cost price = INR 1450
Hence, the correct answer is INR 1450.

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