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A pen was marked up by 50% above cost price and a discount of ₹100 was allowed on the marked price. If the shopkeeper still made a profit of ₹100, then find the selling price of the pen (in ₹).
- 450
- 600
- 500
- 400
Correct answer: 500
Solution
If cost price is x, then marked price = 1.5x. Selling price after ₹100 discount = 1.5x - 100. Since profit is ₹100, selling price = x + 100. Solving gives x = 400 and selling price = 500.
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