New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

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

    sold it after allowing a discount of 15%. If the transaction resulted in a profit of Rs. 22, then find the cost price of the article
    A Rs. 1100 Correct Answer Incorrect Answer
    B Rs. 1000 Correct Answer Incorrect Answer
    C Rs. 1200 Correct Answer Incorrect Answer
    D Rs. 1500 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 × 1.20 = Rs. ‘1.2x’ Selling price of the article = 1.2x × 0.85 = Rs. ‘1.02x’ Profit = 1.02x – x = Rs. ‘0.02x’ ATQ; 0.02x = 22 So, x = 1100 Therefore, cost price of the article is Rs. 1100.

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