A fan is marked at ₹3500. The shopkeeper gives a discount of 10% and still makes a profit of 20%. What is the cost price of the fan?
Show answer & explanation
Correct answer: A
Explanation
Given:
Marked price = ₹3500
Selling price after 10% discount = 3500 × 90/100 = ₹3150
At a 20% profit,
Selling price = 120% of cost price
Cost price = 3150 × 100/120= ₹2625