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    Question

    A trader marked an article 20% above its cost price and

    sold it after allowing a discount of 10%. If the transaction resulted in a profit of Rs. 28, then find the cost price of the article
    A Rs. 350 Correct Answer Incorrect Answer
    B Rs. 300 Correct Answer Incorrect Answer
    C Rs. 320 Correct Answer Incorrect Answer
    D Rs. 370 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.2 = Rs. ‘1.2x’ Selling price of the article = 1.2x × 0.9 = Rs. ‘1.08x’ Profit = 1.08x – x = Rs. ‘0.08x’ ATQ; 0.08x = 28 So, x = 350 Therefore, cost price of the article is Rs. 350.

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