A shopkeeper marks the price of an article in such a way that after allowing a discount of 22%, he gets a gain of 11%. If the marked price is Rs.888, then the cost price of the article is :
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e Rs.624
Explanation:
Marked price = 888
Discount = 22%
Selling price = 888 × 78/100 = 692.64
Gain = 11% so Selling price = 111% of cost price
692.64 = 111% of cost price
Cost price = 692.64 × 100/111 = Rs.624