Question : Piyush marks the price of his article as 30 percent more than its cost price. If he sells the article for Rs. 5720 after allowing a discount of 20 percent, then what will be the cost price of the article?
Option 1: Rs. 5350
Option 2: Rs. 5000
Option 3: Rs. 5500
Option 4: Rs. 5200
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Correct Answer: Rs. 5500
Solution :
The selling price of the article ($SP$) = Rs. 5720
Marked price (MP) $=\frac{100}{(100-\text{discount}\%)}\times SP$
Selling price with 20% discount $=\frac{100}{100-20}\times 5720=$ Rs. 7150
So, the cost price $=\frac{100}{130}\times 7150=$ Rs. 5,500
Hence, the correct answer is Rs. 5500.
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