A dealer allows his customers a discount of 20% and still gains 20%. If the cost price of an article is Rs. 960, what is its marked price (in Rs.)?
- A1,280
- B1,152
- C1,440
- D1,600
Solution & Step-by-step Explanation
We can use the direct relation formula between Cost Price (CP) and Marked Price (MP):
CP
MP
=
100−Discount%
100+Gain%
Given:
Gain%=20%
Discount%=20%
CP=Rs. 960
Substitute the values:
960
MP
=
100−20
100+20
960
MP
=
80
120
=
2
3
MP=960×
2
3
=480×3=1440
Thus, the marked price is Rs. 1,440.
CP
MP
=
100−Discount%
100+Gain%
Given:
Gain%=20%
Discount%=20%
CP=Rs. 960
Substitute the values:
960
MP
=
100−20
100+20
960
MP
=
80
120
=
2
3
MP=960×
2
3
=480×3=1440
Thus, the marked price is Rs. 1,440.