A shopkeeper allows successive discounts of 20% and 10% on every item. At what price is an article marked for Rs. 500 available to customers?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs. 360
Given:
A shopkeeper allows successive discounts of 20% and 10% on every item
Marked price = Rs 500
Formula used:
Successive discount% = - a - b + ab/100
Where a and b are discount%
Calculations:
Successive discount% = -20 - 10 + 200/100 = 28%
Selling price = Marked price - Marked price × Discount%
⇒ Selling price = 500 - 140 = Rs 360