The marked price of an article is ₹ 1500. A shopkeeper sells it by giving 20% discount on its marked price. If the cost price of the article is ₹ 991, then his profit (in ₹) is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e 209.
20% means 1/5, it implies that if the Marked price is ₹5 then the discount is ₹1 and the Selling price become ₹4.
Let the marked price of an article is 5x and the discount is x and the selling price of an article is 4x.
5x = 1500
x = 300.
Selling price of the same article = 4x = 4 × 300 = Rs 1200.
Cost price = Rs 991.
Required profit = 1200 - 991 = Rs 209.