Question
A shopkeeper marks an article 40% above its cost price
and allows a discount on the marked price. If after discount he earns a profit of 12% and the difference between marked price and selling price is Rs. 224, then what is the cost price of the article?Solution
ATQ, Let cost price = x Marked price = 140% of x = 1.4x Selling price = 112% of x = 1.12x Difference between MP and SP = 1.4x - 1.12x = 0.28x Given, 0.28x = 224 x = 224 / 0.28 = 800 Hence, the correct answer is Rs. 800.
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