What price should a shopkeeper mark on an article, costing him ₹ 210, to gain 16%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹ 290.
Given:
Cost price = 210
Gain = 16%
Formula used:
Marked price = Cost price + Cost price × gain%
Selling price = Cost price + cost price × gain%
Calculations:
Selling price = 210 + 210 × 16/100 = 243.6
Let the marked price be x
⇒ x - x × 16% = 243.6
⇒ 0.84x = 243.6
⇒ x = 290