Question : A shopkeeper allows a discount of 12% to his customers and still gains 18%. Find the marked price of an article which costs Rs. 528 to the shopkeeper. (Answer to the nearest rupees)
Option 1: Rs. 728
Option 2: Rs. 708
Option 3: Rs. 695
Option 4: Rs. 798
Correct Answer: Rs. 708
Solution :
Let the marked price (MP) of the article be $x$.
The cost price (CP) is given as Rs. 528.
The shopkeeper allows a discount of 12%, so the selling price (SP) after the discount is:
$SP=x−0.12x=0.88x$
The shopkeeper still gains 18%, so the selling price is also related to the cost price by:
$SP=CP+0.18\times CP=1.18\times CP$
⇒ $0.88x=1.18\times 528$
⇒ $0.88x=623.04$
⇒ $x=708$
Hence, the correct answer is Rs. 708.
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