Question : An item was sold at INR 5,474 after two successive discounts of 12.5% and 8% were offered on its Marked Price. What was the Marked Price (in INR) of the item?
Option 1: 6,750
Option 2: 7,000
Option 3: 6,800
Option 4: 6,600
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Correct Answer: 6,800
Solution : Let the Marked Price of the item be $x$. For a discount of 12.5%. $\text{Discount}{_1}=12.5\%\text{ of }x=0.125x$ ⇒ New price after first discount = $x$ - 0.125$x$ = 0.875$x$ For the Second discount = 8% $\text{Discount}{_2}=8\%\text{ of }0.875x=0.07x$ ⇒ New price after first discount = 0.875$x$ - 0.075$x$ = 0.805$x$ According to the question, 0.805$x$ = 5474 ⇒ $x=\frac{5474}{0.805}$ ⇒ $x$ = INR 6800 Hence, the correct answer is 6,800.
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