A shopkeeper allows a discount of 22% to his customers and still gains 36%. Find the marked price (in ₹) of an article which costs ₹1,092 to the shopkeeper.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 1,904.
We know that,
Selling Price(S.P.) = Cost Price(C.P.) × (1 + Gain%/100)
⇒ S.P. = 1092 × (1 + 36/100)
⇒ S.P. = 1092 × 136/100
⇒ S.P. = 1092 × 1.36
⇒ S.P. = 1485.12
Now,
The shopkeeper gives a discount of 22%
⇒ S.P. = M.P. × (1 - Discount%/100)
⇒ 1485.12 = M.P. × (1 - 22/100)
⇒ 1485.12 = M.P. × 78/100
⇒ 1485.12 = M.P. × 0.78
⇒ M.P. = 1904
Hence, The Marked Price (M.P.) of the article is Rs. 1904