Question : Manoj sold an article at a marked price of Rs. 13,000. Had he offered a discount of 10% on the marked price he would have earned a profit of 30%. What is the cost price?
Option 1: Rs. 10,000
Option 2: Rs. 9,900
Option 3: Rs. 9,000
Option 4: Rs. 11,000
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Correct Answer: Rs. 9,000
Solution :
Given: Marked price = Rs. 13,000
Discount = 10%
Selling price
= Marked price – Discount
= $13000-\frac{10}{100}\times13000$
= $13000-1300$
= $11700$
Profit = 30%
Cost price = $\frac{100}{100+\text{Profit}\%}$ × Selling price = $\frac{100}{130}$ × 11700 = 9000
Hence, the correct answer is Rs. 9,000.
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