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Question : A trader allowed a discount of 20% on a trolley bag having a list price of Rs. 4,296 and earns a profit of 20%. What is the cost price of the trolley bag?

Option 1: Rs. 2,572

Option 2: Rs. 2,500

Option 3: Rs. 3,026

Option 4: Rs. 2,864


Team Careers360 24th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs. 2,864


Solution : Given: A trader allowed a discount of 20% on a trolley bag having a list price of Rs. 4,296 and earns a profit of 20%.
Selling price = 20% discount on 4296 = $4296\times (1–\frac{20}{100})=0.8\times 4296 =$ Rs. 3,436
Let the cost price of the trolley bag be Rs. $x$.
According to the question,
$x(1+\frac{20}{100})= 3436$
⇒ $x\times 1.2=3436$
⇒ $x=$ Rs. 2,864
Hence, the correct answer is Rs. 2,864.

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