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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