A shopkeeper allows a 28% discount on te marked price of an article and srtill makes a profit of 20%. If he gains Rs 30.80 on the sale of one article, then what is the selling price of the article?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 184.80
Given:
A shopkeeper allows a 28% discount on te marked price of an article and srtill makes a profit of 20%
He gains Rs 30.80 on the sale of one article
Formula used:
Selling price = Cost price + cost price × profit%
Selling price = Marked price + marked price × discount%
Calculations:
Let the cost price and marked price be x and y.
Using equation (2)
Selling price = y - y × 28% = 0.72y
According to the question
0.72y = x + x × 20%
⇒ 0.72y = 1.2x
⇒ 0.6y = x
Now, we have
0.72y = p + 30.8
⇒ 0.72y = 0.6y + 30.8
⇒ 0.12y = 30.8
⇒ y = 770/3
Selling price = 0.72 × 770/3 = Rs. 184.8