Multiple choice

The marked price of an article is Rs. 240. A shopkeeper sells it by allowing 18% discount on its marked price and still gains 23%. What is the cost price (in Rs.) of the article?

  1. 160

  2. 180

  3. 200

  4. 150
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Marked Price = Rs. 240. Discount = 18%, so Selling Price = 240 × (1 - 0.18) = 240 × 0.82 = Rs. 196.80. Profit = 23%, so Cost Price = Selling Price / (1 + profit%) = 196.80 / 1.23 = Rs. 160. Verification: 23% of 160 = 36.80, 160 + 36.80 = 196.80 ✓

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