The difference between the selling prices of an article sold at a discount of 14(1/2)% and 10(1/2)% is 48. If the marked price is 25% more than the cost price, then the cost price of the article is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹ 960.
Given:
The difference between the selling prices of an article sold at a discount of 14(1/2)% and 10(1/2)% is 48
Marked price is 25% more than cost price
Formula used:
Selling price = Marked price - Marked price × Discount% ---- (1)
Calculations:
Let the marked price of the article be 100x
According to the question;
⇒ x(14.5% - 10.5%) = 48
⇒ 4x% = 48
⇒ Marked price = 12 × 100 = 1200
Marked price = 125% of cost price
⇒ (1200/125) × 100 = Cost price
⇒ Cost price = 960