Question : Successive discounts of 20% and 10% are given on an item marked at Rs. 700. Find the selling price.
Option 1: Rs. 504
Option 2: Rs. 196
Option 3: Rs. 582
Option 4: Rs. 601
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Correct Answer: Rs. 504
Solution :
Successive discounts 20% and 10% are equivalent to $(20+10-\frac{20×10}{100}) = (30- 2) = 28$%
The item is marked at Rs. 700.
Then the selling price = $(700×\frac{100-28}{100}) = (7×72)$ = Rs. 504
Hence, the correct answer is Rs. 504.
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