Question : The marked price of a ceiling fan is INR 4,200 and the shopkeeper allows a discount of 5% on it. If his profit is 14%, then the cost price of the fan is:
Option 1: INR 3,200
Option 2: INR 3,800
Option 3: INR 3,000
Option 4: INR 3,500
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Correct Answer: INR 3,500
Solution : Given: The marked price of a ceiling fan = INR 4,200 And profit = 14% of Cost price Also, discount = 5% of Marked price So, Selling rice = $\frac{(100-5)}{100}×4200$ $\therefore$ Selling price = INR 3990 Since profit = 14% of Cost price, Selling price = 114% of the Cost price ⇒ 3990 = $\frac{114}{100}$ × Cost price $\therefore$ Cost price = INR 3500 Hence, the correct answer is INR 3,500.
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