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    Question

    The ratio of cost price to marked price of a rice bag is

    7:8 and the Marchant gets a profit of Rs.80 by selling the rice bag at Rs. 500. Then, what will be the marked price of the rice bag?
    A 400 Correct Answer Incorrect Answer
    B 500 Correct Answer Incorrect Answer
    C 480 Correct Answer Incorrect Answer
    D 389 Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that Let cost price of article = Rs 210x  So, marked price of article = 210x × (8/7) =  Rs. 240x  Then, 210x = 500 −80 = 420  x = 2 Rs.  Marked price=Rs.480

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