Question : Ramesh marks his goods 30% above the cost price. If he sells the item for Rs. 910 after allowing a discount of 15%, find his cost price.
Option 1: Rs. 823.5
Option 2: Rs. 758
Option 3: Rs. 814.2
Option 4: Rs. 856.5
Correct Answer: Rs. 823.5
Solution :
Let the cost price of the article be $x$.
Ramesh marks his goods 30% above cost price = $x \times \frac{130}{100} = \frac{13x}{10}$
Now, according to the question:
The item is sold at a 15% discount.
⇒ $\frac{13x}{10} \times \frac{85}{100} = 910$
$\therefore x= \frac{910000}{1105} = 823.5$
Hence, the correct answer is Rs. 823.5.
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