A shopkeeper allows 28% discount on the marked price of an articles and still makes a profit of 20% . If he gains Rs 3,080 on the sale of one articles , t hen what is the selling price ( in Rs) of the articles ?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 18,480
let the selling price is SP, the Cost Price is CP and the Marked Price is MP
let CP = 100% then SP = 120% and
profit is 20% = 3080 Rs.
1% = 154 Rs.
CP = 100% = 154 x 100 = 15400 Rs.
Now selling price SP = CP + Profit = 15400 + 3080 = 18480 Rs.