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    Question

    A retailer offers a discount of 20% on a product. If the

    product’s marked price is ₹500 and the retailer still makes a profit of 12%, find the cost price of the product.
    A ₹357 Correct Answer Incorrect Answer
    B ₹353 Correct Answer Incorrect Answer
    C ₹396 Correct Answer Incorrect Answer
    D ₹426 Correct Answer Incorrect Answer

    Solution

    Selling price after discount = ₹500 × (1 - 0.20) = ₹400. Let cost price = C. Since profit = 12%, 400 = C × (1 + 0.12) C = 400/1.12 = ₹357.14 Answer: a) ₹357

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