A shopkeeper allows 28% discount on the marked price of an article and still makes a profit of 30%. If he gains Rs30.90 on the sale of one article, then what is the marked price (to the nearest Rs) of the article?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 186
Concept Used :
1. CP = SP × (100/100+profit)
2. SP = MP × (100-discount)/100
3. SP - CP = Profit
Solution:
Let the marked price of the article be Rs. x
Now, the SP = 72x/100 = 36x/50
So, the CP = 36x/50 × 100/130
CP = 36x/65
Given that profit = Rs. 30.90
Then, SP - CP = 30.90
36x/50 - 36x/65 = 30.90
(468x - 360x)/650 = 30.90
108x = 309 × 65
x = 185.9722.... ≈ 186
Hence the marked price of the article is Rs. 186.