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    Question

    An item is sold for a 12% profit. The marked price is

    Rs. 840. The reduction from the marked price to selling price equals 28% of the difference between marked and cost price. Find the cost price of the item.
    A Rs.920 Correct Answer Incorrect Answer
    B Rs.520 Correct Answer Incorrect Answer
    C Rs.720 Correct Answer Incorrect Answer
    D Rs.650 Correct Answer Incorrect Answer

    Solution

    ATQ,
    Let the cost price be Rs. 100x

    Then selling price = Rs. 100x ├Ч 1.12 = Rs. 112x

    ATQ,

    (840 - 112x) = (840 - 100x) ├Ч 0.28

    Or, 840 - 112x = 235.2 - 28x

    Or, 604.8 = 84x

    So, x = 7.2

    So, cost price = Rs. 100 ├Ч 7.2 = Rs. 720

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