Multiple choice

A shopkeeper fixes the marked price of an article at 30% above its cost price. He gives 10% discount on the marked price. A customer purchased the article for Rs. 702. How much did the shopkeeper pay for that article?

  1. Rs. 600

  2. Rs. 650

  3. Rs. 700

  4. Rs. 750
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Marked Price = 1.3 * CP. Selling Price = 0.9 * MP = 0.9 * 1.3 * CP = 1.17 * CP. 702 = 1.17 * CP. CP = 702 / 1.17 = 600.

AI explanation

Let the cost price be P. The marked price is 1.3P, and using the discount formula the selling price becomes 0.9 times 1.3P, which is 1.17P. Setting this equal to the given selling price gives 1.17P equals 702. Solving for P by dividing 702 by 1.17 yields the cost price of Rs. 600.

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