A shopkeeper offers a discount of 18% on a macine and sells it for Rs 48380. If he does not offers the discount, he will get a profit of 18%.What is the cost price (in Rs) of the machine?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 50,000
Without the discount selling price would be 43830 × (100/82) = Rs. 59000
According to the question,
Cost price × (118/100) = 59000
⇒ Cost price = 59000 × (100/118)
⇒ Cost price = 50,000