After allowing a discount of 15%, the value of a washing machine is ₹29,750. If no discount is allowed, then the shopkeeper gains 12%. The cost price of the washing machine is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Rs. 31,250.
Given that
Discount = 15%
S.P. of washing machine = Rs. 29750
Gain % = 12%
Selling price = Marked price × (100 - discount%)/100
Cost Price = Selling Price × 100/(100 + profit %)
According to the question
⇒ (100 - 15)% = 29750
⇒ 85% = 29750
⇒ 1 % = 29750/85 = 350
⇒ 100% = Rs. 35000
Thus, M.P. of washing machine = Rs. 35000
If no discount is given, M.P. = S.P. = Rs. 35000
C.P. = S.P. × [100/(100 + Profit)]
C.P. = 35000 × (100/112) = Rs. 31250