Multiple choice

A jewelry store owner purchases a necklace for Rs. 1000 and has to pay 8% import duty on it. The owner wants to make a profit of 15% after offering a 20% discount to customers. What should be the marked price of the necklace?

  1. Rs. 1100.75

  2. Rs. 1202.25

  3. Rs. 1048.50

  4. Rs. 1552.50

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

CP = 1000 + 8% of 1000 = 1080. Let MP be x. Selling Price = 0.8x. Profit = 15% of 1080 = 162. SP = 1080 + 162 = 1242. 0.8x = 1242. x = 1242 / 0.8 = 1552.5.

AI explanation

The total cost including the 8% import duty is 1000 times 1.08, equaling Rs. 1080. To make a 15% profit on this cost, the target selling price is 1080 times 1.15, equaling Rs. 1242. This selling price represents an 80% value of the marked price after the 20% discount, so the marked price is 1242 divided by 0.80, which equals Rs. 1552.50.

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