Multiple choice

What price should a shopkeeper Gopal mark on a chair which costs him RS.1200 so as to gain 12% after allowing a discount of 16% ?

  1. Rs. 1550

  2. Rs. 1600

  3. Rs. 1800

  4. Rs. 1650
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cost = 1200, Profit = 12%, so Selling Price = 1200 * 1.12 = 1344. Discount = 16%, so 1344 = Marked Price * (1 - 0.16) = Marked Price * 0.84. Marked Price = 1344 / 0.84 = 1600.

AI explanation

Using the formula for marked price, Marked Price equals Cost Price multiplied by (100 plus Gain Percentage) divided by (100 minus Discount Percentage). Substituting the given values, Marked Price equals 1200 multiplied by 112 divided by 84. Simplifying this ratio, 112 divided by 84 equals 4 divided by 3, so the Marked Price is 1200 multiplied by 4 divided by 3. The required marked price is 1600.

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