A shopkeeper marks his goods in such a way that after allowing a discount of 22% he gains 20%. If the cost price of the article is ₹650, then its marked price is:

Question

Question

This question was previously asked in

SSC CGL 2023 Tier-I Official Paper (Held On: 21 Jul 2023 Shift 3)

Answer 1

Given:

A shopkeeper marks his goods in such a way that after allowing a discount of 22% he gains 20%. If the cost price of the article is ₹650

Formula used:

If a shopkeeper wants a profit of R% after allowing a discount of r%

Then cost price = Market price × \(\frac{100-r}{100+R}\)

Calculation:

As per the question,

650 = marked price × (100 - 22) / (100 + 20)

⇒ marked price = 650 × 120 / 78

⇒ Rs 1000

So the marked price of the article is Rs 1000