Question : What will be the cost price of the goods if a shopkeeper allows a discount of 10% on the marked price of Rs. 100 and gains 8% (rounded off to the nearest integer)?
Option 1: Rs. 83
Option 2: Rs. 86
Option 3: Rs. 87
Option 4: Rs. 81
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Correct Answer: Rs. 83
Solution :
Marked price = Rs. 100
Discount = 10% of marked price = Rs. 10
⇒ Selling price = 100 – 10 = Rs. 90
Also, profit = 8% of cost price
So, the selling price – cost price = 8% of the cost price
⇒ The selling price = 108% of the cost price
⇒ 90 = 1.08 × cost price
So, the cost price = $\frac{90}{1.08}$ = Rs. 83.333 ~ Rs. 83
Hence, the correct answer is Rs. 83.
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