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Question
An article is marked at Rs. 1500. A trader allows a discount at 3% and still gains 20% on the cost. Find the cost price of the article.
Solution
Given List price = Rs. 1500.
Discount at 3% = `1500 xx 3/100` = Rs. 45
Selling price = 1500 - 45 = Rs. 1455
If the cost price is Rs. 100, then the selling price is Rs. 120.
∴ The cost price for selling price Rs. 1455. = `1455 xx 100/120 = Rs. 1212.50`
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