A shopkeeper, sells an article for ₹319.20. After offering a discount of 5% on its marked price. Had he not given the discount, he would have earned a profit of 12%. The cost price in ₹ of the article is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 300.
Let Marked Price (MP) = ₹x
Selling Price after 5% discount = ₹319.20
95% of x = 319.20
x = 319.20/95 = ₹336
If no discount given, SP = MP = ₹336
Profit = 12%
Cost Price (CP) = 336/1.12 = ₹300