An article is marked ₹224 above its cost price. It was sold at a profit of 20% after giving a discount of 15% on its marked price. What is the selling price (in ₹) of the article?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 652.80.
Let CP = x
0.85(x + 224) = 1.2x
⇒ 0.85x + 190.4 = 1.2x
⇒ 0.35x = 190.4
⇒ x = 190.4/0.35 = 544 (CP)
SP = (120/100) × 544 = 652.80