Question : An article was sold at Rs. 950, allowing a 5% discount on the marked price. The marked price of the article is:
Option 1: Rs. 960
Option 2: Rs. 1000
Option 3: Rs. 955
Option 4: Rs. 945
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Correct Answer: Rs. 1000
Solution :
Given: An article was sold at Rs. 950, allowing a 5% discount on the marked price.
Let the marked price be 100 units.
So, after a 5% discount the selling price = (100 – 5) = 95 units
Here, 95 units are equivalent to Rs. 950.
So, 100 units is equivalent to ($\frac{950×100}{95}$) = Rs. 1000
Hence, the correct answer is Rs. 1000.
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