A shopkeeper sells an item at a discount of 40% on the item’s listed price of Rs. 1500.00. He still…
A discount of 40 percent on a list price of 1500 gives a selling price of \(1500\times0.60 = 900\). Since this includes a profit of 20 percent, the cost is \(\frac{900}{1.2}…
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A shopkeeper sells an item at a discount of 40% on the item’s listed price of Rs. 1500.00. He still makes a profit of 20% of the original cost of the item. What is the original cost of the item?
Answer and explanation
Correct answer B
A discount of 40 percent on a list price of 1500 gives a selling price of . Since this includes a profit of 20 percent, the cost is . Hence the original cost is Rs. 750.
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