A shopkeeper fixes the price of an article in such a way that after allowing 32% discount, he wants a gain of 14%. If the marked price is Rs.342, then the cost price of the article is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e Rs.204
The market price of the article is Rs. 342 which is after 32% discount
⇒ Selling price = 342 × (1 - 32 / 100)
⇒ Selling price = 342 × 0.68
⇒ Rs. 232.56
On this article, he had a gain of 14%
⇒ Selling price = cost price × (1 + gain%/100)
⇒ 232.56 = CP × (1 + 0.14)
⇒ CP = 232.56 / 1.14
⇒ CP = Rs. 204