Question : A shopkeeper allows a rebate of 12% on the marked price of an article such that the selling price is Rs. 440. Then the marked price of the article is:
Option 1: Rs. 490
Option 2: Rs. 500
Option 3: Rs. 600
Option 4: Rs. 550
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Correct Answer: Rs. 500
Solution :
Let the marked price be $x$.
According to the question,
$\frac{100 - 12}{100}×x$ = 440
⇒ $\frac{88}{100}×x$ = 440
$\therefore x$ = Rs. 500
Hence, the correct answer is Rs. 500.
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