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A shopkeeper marks an item 25% above the cost price. He gives a 12% discount and makes a profit of ₹240. What is the cost price?
- ₹ 8,00
- ₹ 1,200
- ₹ 2,400
- ₹ 1,500
Correct answer: ₹ 2,400
Solution
Marked price = 125% of CP. After 12% discount, selling price = 88% of MP = 0.88 × 1.25 CP = 1.1 CP. So profit is 10% of CP. Given profit = ₹240, CP = 240/0.10 = ₹2400.
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