Multiple choice

A shopkeeper fixes the price of an article in such a way that after allowing 32% discount, he wants a gain of 14%. If the marked price is Rs. 342, then the cost price of the article is:

  1. Rs. 204

  2. Rs. 218

  3. Rs. 212

  4. Rs. 196
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let CP = x. SP = 1.14x. Also, SP = MP * (1 - discount%) = 342 * (1 - 0.32) = 342 * 0.68 = 232.56. 1.14x = 232.56, x = 232.56 / 1.14 = 204.

AI explanation

The selling price equals the marked price multiplied by (1 minus the discount percentage), so the selling price is 342 multiplied by 0.68, resulting in 232.56 rupees. Using the profit formula where selling price equals cost price multiplied by (1 plus the profit percentage), we have 232.56 equals cost price multiplied by 1.14. Dividing 232.56 by 1.14 gives the cost price of 204 rupees.

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