A merchant marked an article 20% above its cost price. He offered two consecutive discounts of 15% and 10% to a buyer. If he incurred a loss of ₹328, what was the marked price of the article?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹4,800.
Let the CP = C
MP = 1.2C
SP = 1.2C × (85/100) × (90/100) = 0.918C
Loss = C - 0.918C = 0.082C
So, 0.082C = 328
⇒ C = 328/0.082 = 4000
MP = 120/100 × 4000 = 4800