Question : A trader allowed a discount of 25 percent on a trolley bag having a list price of Rs. 1488 and earns a profit of 20 percent. What is the cost price of the trolley bag?
Option 1: Rs. 908
Option 2: Rs. 880
Option 3: Rs. 930
Option 4: Rs. 960
Correct Answer: Rs. 930
Solution :
The selling price = 0.75 × 1488
The trader earns a profit of 20%, which means the selling price is 120% of the cost price.
Let the cost price be C.
Selling Price = 1.20 × C
Setting these two equations equal to each other,
⇒ 0.75 × 1488 = 1.20 × C
⇒ C = 930
Hence, the correct answer is Rs. 930.
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