A dealer's cost price for each fan he would like to sell is ₹2,000. After allowing a discount of 20% on its marked price, he gains 20%. His marked price of the fan is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹ 3000.
Given that
The cost price of a fan = ₹2,000
The discount given on the marked price = 20%
Gain % = 20%
Selling price (S.P.) = C.P. × (100 + P)/100
Marked price (M.P) = S.P. × 100/(100 - D)
S.P. = 2000 × (120/100) = ₹2400
M.P. = 2400 × 100/(80)= ₹3000