The marked price on a book is ₹1,000. In a book fair, it is available for sale with a discount scheme offering two successive discounts of 12% and 8%. What is the final selling price (in ₹) of the book for a customer (rounded off to the nearest integer)?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 810.
Profit is calculated on cost price and discount is calculated on market price.
Single discount equivalent to two successive discounts of a% and b% = (a + b +ab/100)
Here, a = 12%, and b = 8%
So, the single discount = (- 12 - 8 + 96/100) = - 20 + 0.96 = -19.04% [-ve sign indicates the discount]
Selling price after getting 19% discount,
⇒ 1000 × 81/100 = Rs 810