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      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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