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    Question

    The reduction in price from marked price to selling price

    is 28% of the gap between the marked price and cost price. If the seller gains 18% profit and the marked price is Rs. 780, determine the cost price.
    A 350 Correct Answer Incorrect Answer
    B 420 Correct Answer Incorrect Answer
    C 624 Correct Answer Incorrect Answer
    D 580 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the cost price be Rs. 100x

    Selling price = 100x × 1.18 = Rs. 118x

    ATQ,

    (780 - 118x) = (780 - 100x) × 0.28

    ⇒ 780 - 118x = 218.4 - 28x

    ⇒ 780 - 218.4 = 118x - 28x

    ⇒ 561.6 = 90x

    ⇒ x = 6.24

    Cost price = 100 × 6.24 = Rs. 624

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