Question : The price of a treadmill is marked at INR 1,250. A shopkeeper earns a profit of 14% after allowing a discount of 14% on the marked price. Find the cost price (to the nearest rupee) of the treadmill.
Option 1: INR 845
Option 2: INR 840
Option 3: INR 1,043
Option 4: INR 943
Correct Answer: INR 943
Solution :
Marked price = INR 1,250
Discount = 14% of 1250 = INR 175
Selling price = marked price – discount = 1250 – 175 = INR 1075
Let $x$ be the cost price.
Profit = 14% of $x = 0.14 x$
Selling price = cost price + profit
⇒ 1075 = $x+0.14x = 1.14x$
⇒ $x = \frac{1075}{1.14}$
⇒ $x=$ 942.98 ~ 943
Hence, the correct answer is INR 943.
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