Ram marked an certain article for Rs.490. He sold it for a discount of

1.	Ram marked an certain article for Rs.490. He sold it for a discount of Rs.100. If he gains 30% in the whole transaction, find the initial cost price of the article.1. Rs. 2502. Rs. 3003. Rs. 3204. Rs. 2705. Rs. 350
Answer» Correct Answer - Option 2 : Rs. 300 Given: Marked Price = Rs.490 Discount on the Marked price = Rs.100 The gain in the overall transaction (Profit%) = 30% Formulae Used: Profit = [(SP – CP)/CP] × 100 Discount = SP – MP Calculation: Let the initial cost price of the article be Rs.x Ram sold the article for a discount of Rs.100 Hence, the new SP = Rs. (490 – 100) ⇒ Rs. 390 Overall gain in the transaction = 30% So, we get: 30 = [(390 – x)/x] × 100 ⇒ 30x = 39000 – 100x ⇒ 130x = 39000 ⇒ x = Rs.300 ∴ The initial Cost Price of the article is Rs. 300

Ram marked an certain article for Rs.490. He sold it for a discount of Rs.100. If he gains 30% in the whole transaction, find the initial cost price of the article.1. Rs. 2502. Rs. 3003. Rs. 3204. Rs. 2705. Rs. 350

Answer» Correct Answer - Option 2 : Rs. 300

Given:

Marked Price = Rs.490

Discount on the Marked price = Rs.100

The gain in the overall transaction (Profit%) = 30%

Formulae Used:

Profit = [(SP – CP)/CP] × 100

Discount = SP – MP

Calculation:

Let the initial cost price of the article be Rs.x

Ram sold the article for a discount of Rs.100

Hence, the new SP = Rs. (490 – 100)

⇒ Rs. 390

Overall gain in the transaction = 30%

So, we get:

30 = [(390 – x)/x] × 100

⇒ 30x = 39000 – 100x

⇒ 130x = 39000

⇒ x = Rs.300

∴ The initial Cost Price of the article is Rs. 300

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