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    Question

    Akash marked a bag of chips at

    Rs.240 higher than its cost price. He sold it after applying two successive discounts of 10% and 20%, resulting in a loss of Rs.96. What is the cost price of the chips?
    A 750 Correct Answer Incorrect Answer
    B 960 Correct Answer Incorrect Answer
    C 850 Correct Answer Incorrect Answer
    D 695 Correct Answer Incorrect Answer

    Solution

    ATQ, Let cost price of the item is Rs. ‘a’ Marked price of the item = Rs. ‘a + 240’ According to question; a – 96 = 0.80 × 0.90 × (a + 240) Or, a – 96 = 0.72a + 172.8 Or, 0.28a = 268.8 Or, a = 960

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