A discount of 20% is given on the marked price of a cycle, and still, there is a profit of 20%. If the profit is ₹800, find the marked price of the cycle.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹6,000.
CP/MP = (100 - D%)/(100 + P%)
⇒ CP/MP = (100 - 20)/(100 + 20) = 80/120 = 2/3
SP = (80/100) × 3 = 2.4
Profit (P) = 2.4 - 2 = 0.4
MP = (800/0.4) × 3 = 6000