Multiple choice

A shopkeeper announced a discount of 30%, such that he earned a profit of 16.67% on all his products. If the profit earned is Rs. 250, what is its marked price?

  1. 1500

  2. 2000

  3. 2500

  4. 3000

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Profit of 16.67% equals 1/6 of CP. If profit is Rs.250, then CP = Rs.250 × 6 = Rs.1500. After 30% discount, SP = 70% of MP, so MP = 1750/0.70 = Rs.2500.