Question : A shopkeeper allows a discount of 15% on an article and still makes a profit of 20%. What does the shopkeeper pay for an article whose marked price is INR 7,200?
Option 1: INR 6,120
Option 2: INR 5,120
Option 3: INR 6,100
Option 4: INR 5,100
Correct Answer: INR 5,100
Solution :
Marked price = INR 7,200
Profit = 20%
Discount = 15%
Formula used:
Solution:
Let the cost price be Rs.
⇒
⇒
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So, the cost price of the article is INR 5,100.
Hence, the correct answer is INR 5,100.