Question : A watch dealer pays a 10% customs duty on a watch which costs Rs. 500 abroad. He desires to make a profit of 20% after giving a discount of 25% to the buyer. The marked price should be:
Option 1: Rs. 950
Option 2: Rs. 800
Option 3: Rs. 880
Option 4: Rs. 660
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Correct Answer: Rs. 880
Solution :
Let the Marked price of the watch be Rs. $y$
Actual CP of watch = 110% of Rs. 500 = Rs. $\frac{500\times 110}{100}$ = Rs. 550
According to the question,
Profit percentage = 20%
Discount percentage = 25%
Let the marked price be Rs. $y$.
⇒ $y\times \frac{75}{100}=\frac{550\times 120}{100}$
⇒ $y=\frac{550 \times 120}{75}$ = Rs. 880
Hence, the correct answer is Rs. 880.
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