A shopkeeper marked a product, 5% above the cost price and sold the product for ₹1890 by giving a discount of 10%. The cost price of the product is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. ₹ 2,000.
Given that
A shopkeeper marked a product, 5% above the cost price
He sold the product for ₹1890 by giving a discount of 10%
Let the cost price of a product be 100 units
According to the question
The marked price of product = 100 + 5 = 105 units
The selling price after getting discount of 10% = 105 × 0.9 = 94.5 units
⇒ 94.5 units = ₹1890
⇒ 100 units = 1890 × 100/94.5 = ₹2000
Hence, the cost price of the product is ₹2000