After allowing a discount of 
% on the marked price of an article. it was sold for Rs. 700. Had the discount NOT been given, the profit would have been 60%.The cost price of the article is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 500
After allowing a discount of % on the marked price of an article. it was sold for Rs. 700
87.5% of MP = 700 or MP = 800
Had the discount NOT been given, the profit would have been 60% it means,
SP becomes 800 then,
160% of CP = 800
CP = Rs. 500