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    Question

    A shopkeeper marks up an item by 25%. If he

    increases the discount from 7% to 15%, the profit will decrease by Rs. 35. Find the selling price of the item in order to earn a profit of 40%.
    A Rs. 440 Correct Answer Incorrect Answer
    B Rs.490 Correct Answer Incorrect Answer
    C Rs. 317 Correct Answer Incorrect Answer
    D Rs. 208 Correct Answer Incorrect Answer
    E Rs. 135 Correct Answer Incorrect Answer

    Solution

    Let, cost price of item be Rs. x.
    So, mark price = Rs. 1.25x
    According to question,
    1.25x [0.93 – 0.85] = 35
    1.25x = 437.5
    x = 350
    Therefore, required selling price = 350 × 1.40 = Rs. 490

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