A retailer marks up his goods by $150\%$ and offers a $40\%$ discount. What will be the selling price if the cost price is ₹$1,600$?

Given:
* Cost Price ($\text{CP}$) = ₹$1,600$
* Markup Percentage = $150\%$
* Discount Percentage = $40\%$

1. Find the Marked Price ($\text{MP}$):

$$\text{Markup Amount}=150\%\text{ of }\text{CP}=\frac{150}{100}\times 1600=2400$$

$$\text{MP}=\text{CP}+\text{Markup Amount}=1600+2400=₹4,000$$

2. Find the Selling Price ($\text{SP}$) after a $40\%$ discount:

$$\text{Discount Amount}=40\%\text{ of }\text{MP}=\frac{40}{100}\times 4000=1600$$

$$\text{SP}=\text{MP}-\text{Discount Amount}=4000-1600=₹2,400$$

Alternatively:

$$\text{SP}=\text{CP}\times \left(1+\frac{\text{Markup}\%}{100}\right)\times \left(1-\frac{\text{Discount}\%}{100}\right)$$

$$\text{SP}=1600\times 2.5\times 0.6=1600\times 1.5=₹2,400$$