The lowest price of an article was ₹735. Ravi sold it after giving a 20% discount on its list price and still made a profit of 47%. What was the cost price (in ₹) of the article?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 400.
Let list price = ₹735
Discount = 20%:
SP = 735 × 0.80 = ₹588
Profit = 47%
Let CP = x
Then, SP = x × (1 + 47/100) = 1.47x
So,
⇒ 1.47x = 588
⇒ x = ₹400