A shopkeeper allows 18% discount on the marked price of an article & still makes a profit of 23%. If he earns Rs. 18.40 as a profit, then what is the marked price of the article?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e Rs. 120
23% of CP = 18.40
CP = 80
S.P = C.P + 18.40
S.P = 98.40
S.P after deduction of 18% from marked price.
MP - 18MP/100 = 98.40
⇒ 82MP/100 = 98.40
⇒ MP = 120
∴ Marked price of article = Rs. 120