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

    Question

    A seller marked an article 60% above its cost price and

    sold it after allowing 20% discount. If he made a profit of Rs. 56, then find the difference between selling price and marked price of the article.
    A Rs 60 Correct Answer Incorrect Answer
    B Rs 62 Correct Answer Incorrect Answer
    C Rs 64 Correct Answer Incorrect Answer
    D Rs 66 Correct Answer Incorrect Answer
    E Rs 68 Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. ‘2x’
    So, marked price of the article = 2x × 1.6 = Rs. ‘3.2x’
    Selling price of the article = 3.2x × 0.8 = Rs. ‘2.56x’
    Profit = 2.56x – 2x = Rs. ‘0.56x’
    ATQ; 0.56x = 56
    ⇒ x = 100
    Marked Price = 100 × 3.2 = Rs. 320
    Selling Price = 100 × 2.56 = Rs. 256
    Required difference = 320 – 256 = Rs. 64

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