Question : After allowing a 10% discount on the marked price of an article, a person makes a profit of 16%. If the cost price of the article is INR 648, then its marked price is:
Option 1: INR 910.40
Option 2: INR 835.20
Option 3: INR 751.68
Option 4: INR 826.80
Correct Answer: INR 835.20
Solution :
Given: Cost price of the article = INR 648
Selling price at a profit of 16% = $\frac{\text{100 + profit%}}{100}\times$ Cost price
= $648\times\frac{116}{100}$
= 751.68
Also, Selling price = $\frac{\text{100 - discount%}}{100}\times$ marked price
⇒ $751.68= \frac{90}{100}\times$ marked price
⇒ The marked price = 835.2
Hence, the correct answer is INR 835.20.
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