Question : The ratio of the cost price (CP) and marked price (MP) of an article is 4 : 7. A discount of 20% is given on MP and the shopkeeper makes a profit of INR 80. Find the CP of the article.
Option 1: INR 190
Option 2: INR 170
Option 3: INR 200
Option 4: INR 180
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Correct Answer: INR 200
Solution :
Let the cost price and marked price of an article be $4x$ and $7x$.
Selling price after 20% discount on marked price = $\frac{(100-20)}{100}\times 7x = 5.6x$
Selling price after profit of INR 80 on cost price = $4x + 80$
According to the question,
$5.6x=4x+80$
$⇒1.6x=80$
$⇒x=50$
$\therefore$ Cost price $=4x=4×50=200$
Hence, the correct answer is INR 200.
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