A product is sold for ₹1,680 after a 16% discount is given on its marked price. What was the marked price of the product?
Show answer & explanation
Correct answer: B
Explanation
Given:
Discount = 16%
Selling price = ₹1680
Formula:
Selling price = Marked price × (1 − Discount/100)
1680 = M × (1 − 16/100)
1680 = M × 0.84
M = 1680 / 0.84
M = ₹2000