Marked price of an article is 70% more than its cost price. After giving a discount of 10%, article is sold for Rs. 1071. What will be the cost price of the article?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs. 700.
| Understanding/Application |
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Let Cost Price of the article be Rs.100x Marked Price of the article = 170% of Rs.100x = Rs.170x Selling Price after discount of 10% = 90% of Rs.170x = (170x × 90)/100 = Rs.153x Rs.153x = Rs.1071 x = Rs.7 |
| Cost Price = Rs.100x = Rs.100(7) = Rs.700 |