The marked price of an article is 150% more than the cost price, and the discount given on the marked price is 30%. If the difference between the selling price and the cost price is ₹525, find the cost price of the article.

₹600
₹550
₹650
₹700

Correct answer: ₹700

Solution

Marked price is 150% more than cost price, so MP = 2.5CP. After 30% discount, SP = 70% of MP = 1.75CP. Given SP - CP = 525, so 0.75CP = 525, which gives CP = 700.

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