Question : The cost of an article is Rs. 200. If 20% profit is made after giving a 20% discount on the marked price, the marked price is:
Option 1: Rs. 300
Option 2: Rs. 320
Option 3: Rs. 420
Option 4: Rs. 450
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Correct Answer: Rs. 300
Solution :
Let the marked price be Rs. 100.
Discount = 20%
⇒ Selling Price = (100 – 100 × $\frac{20}{100}$) = (100 – 20) = Rs. 80
Now profit = 20%
So, the cost price is = 80 × ($\frac{100}{100+20}$) = Rs. $\frac{200}{3}$
Here, Rs. $\frac{200}{3}$ is equivalent to Rs. 200.
So, Rs. 100 is equivalent to ($\frac{200×100}{\frac{200}{3}})$ = Rs. 300
Hence, the correct answer is Rs. 300.
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