A person bought a cycle at a discount of 20% on the marked price. He spent Rs. 400 on repairs and sold it for Rs. 4,800, gaining 25%. What was the marked price?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs. 4,300.
CP = 0.8 × MP
Total CP = 0.8 × MP + 400
SP = 4800 = 1.25 × CP
⇒ 4800 = 1.25(0.8 × MP + 400) = MP + 500
⇒ MP = 4800 - 500 = 4300