A shopkeeper gives a discount of 10% on his items. ₹ 280 is the marked price of an item. On selling this item, the shopkeeper earns a profit of 26%. What is the cost price of the item ?
₹ 260
₹ 240
₹ 200
₹ 180
Answer is Wrong!
Answer is Right!
This question was previously asked in
UPSC CISF-AC-EXE – 2022
Discount amount = 10% of ₹ 280 = (10/100) * 280 = ₹ 28.
Selling Price (SP) = Marked Price – Discount = ₹ 280 – ₹ 28 = ₹ 252.
SP = CP + Profit = CP + 26% of CP = CP + (26/100) * CP = CP * (1 + 0.26) = 1.26 * CP.
So, 252 = 1.26 * CP.
To find the cost price, divide the selling price by 1.26:
CP = 252 / 1.26 = 252 / (126/100) = (252 * 100) / 126.
Since 252 is twice 126 (2 * 126 = 252), the calculation simplifies:
CP = (2 * 126 * 100) / 126 = 2 * 100 = ₹ 200.