A dealer allows a discount of 25% on marked price but still gains 60%. If the cost price is Rs. 1500, what is the marked price?
Show answer & explanation
Correct answer: C
Explanation
Cost Price (CP) = ₹1500
Profit = 60%
Selling Price (SP) = 1500 × 160% = 1500 × 1.6 = ₹2400
SP = 75% of Marked Price
2400 = 0.75 × Marked Price
Marked Price = 2400 ÷ 0.75 = ₹3200