The cost price of a shirt is ₹262.40. At what price should it be marked so as to gain 14% after allowing an 18% discount on the marked price?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹364.80.
Let marked price = ₹x
Discount = 18%
So, SP = 82% of x = x
We want a 14% gain on CP = ₹262.40
⇒ SP = 1.14 × 262.40 = ₹299.136
Now,
⇒ x = 299.136
⇒ x = = ₹364.80