After allowing a discount of 15% on the marked price, the selling price is Rs. 6800 for an article. If it was sold at marked price, there would have been a profit of 60%. The cost price of the article is?
Correct answer: C. Rs. 5000
- A. Rs. 6400
- B. Rs. 5600
- C. Rs. 5000
- D. Rs. 4800
- E. None of these
Explanation
A 15% discount leaves 85% of the marked price, so the marked price is Rs. 6800 ÷ 0.85 = Rs. 8000. Selling at the marked price would give a 60% profit, making the cost price Rs. 8000 ÷ 1.60 = Rs. 5000. The likely wrong choice is Rs. 5600, which treats the discounted price as though it represented the full marked price.
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About Profit and Loss
Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.
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