Question
Download Solution PDFThe ratio of cost price (CP) and marked price (MP) of an article is 4 ∶ 7. A discount of 20% is given on MP and the shopkeeper made a profit of ₹80. Find the CP of the article.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price (CP) : marked price (MP) = 4 ∶ 7. discount = 20%, profit = ₹80.
Concept used:
The discount is calculated on market price while profit is calculated on cost price.
Calculation:
Let the cost price is 40 then market price is 70
After discount the selling price = 70 - 70/5
⇒ 70 - 14 = 56
Profit will be 56 - 40 = 16
As per the question,
Value of 16 units = 80
So 1 unit = 80 /16 = 5
Then 40 units = 40 × 5 = 200
∴ The correct option is 3
Last updated on May 28, 2025
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