Question : A shopkeeper marked a product 5% above the cost price and sold the product for INR 1890 by giving a discount of 10%. The cost price of the product is:
Option 1: INR 1,701
Option 2: INR 2,100
Option 3: INR 2,000
Option 4: INR 2,205
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Correct Answer: INR 2,000
Solution :
Selling price = INR 1890
Discount = 10% of marked price
$\therefore$ Marked price = $\frac{100}{100-10}×1890=\frac{100}{90}×1890=$ INR 2100
The marked price is 5% above the cost price.
$\therefore$ Cost price = $\frac{100}{100+5}×2100=\frac{100}{105}×2100$ = INR 2000
Hence, the correct answer is INR 2000.
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