Question : A tradesman marks his goods at such a price that after allowing a discount of 31%, he makes a profit of 15%. What is the marked price of an article whose cost price is Rs. 3,420?
Option 1: Rs. 5,700
Option 2: Rs. 5,200
Option 3: Rs. 5,475
Option 4: Rs. 5,550
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Correct Answer: Rs. 5,700
Solution :
Rate of discount = 31%
Profit = 15%
The cost price (CP) of an article = Rs. 3,420
Selling Price (SP) = $CP \times \frac{(100+\text{Profit}\%)}{100}$
= $3420 \times \frac{(100+15)}{100}$
= $3420 \times \frac{(100+15)}{100}$
= Rs. 3,933
Marked Price (MP) = $SP \times \frac{100}{100−\text{discount}\%}$
= $3933 \times \frac{100}{100−31}$
= Rs. 5,700
Hence, the correct answer is Rs. 5,700.
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