Question : The marked price of an article is Rs. 1200. A discount of 40% is given. If there is a loss of 20%, then what is the cost price of the article?
Option 1: Rs. 780
Option 2: Rs. 850
Option 3: Rs. 1020
Option 4: Rs. 900
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Correct Answer: Rs. 900
Solution : Discount = $\frac{40}{100}$ × Marked price Let's denote the cost price of the article as $C$. The marked price (MP) is Rs. 1200, and a discount of 40% is given, So, Discount = $\frac{40}{100}×1200$ = Rs. 480 Selling Price (SP) = Marked Price − Discount ⇒ SP = 1200 − 480 = Rs. 720 Since there is a loss of 20% Loss = $\frac{20}{100}$ × Cost Price ⇒ Loss = ${0.2C}$ SP = Cost Price − Loss ⇒ 720 = C − 0.2C ⇒ 720 = 0.8C ⇒ $C = \frac{720}{0.8}$ ⇒ $C = {900}$ So, the cost price of the article is Rs. 900. Hence, the correct answer is Rs. 900.
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