Three successive discounts of 40%, 25% and 20%, respectively, on the marked price of a chair, are equal to a single discount of ₹960. The marked price (in₹) of the chair is:
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Correct answer: C
Explanation
The correct answer is option 3 i.e. 1,500.
Let marked price = ₹x
Net price after successive discounts:
= x × (1−0.40) × (1−0.25) × (1−0.20) = x × 0.6 × 0.75 × 0.8 = x × 0.36
So, discount = x − 0.36x = 0.64x
0.64x = ₹960
x = 960/0.64 = ₹1500