A shopkeeper marked an article 48% above the cost price and sold it after giving a discount of 25%. Had he sold the article without giving any discount then he would have earned a profit of 168. Find the original selling price of the article. Options Rs. 392.50 Rs. 518 Rs. 388.50 Rs. 350
Question
A shopkeeper marked an article 48% above the cost price and sold it after giving a discount of 25%. Had he sold the article without giving any discount then he would have earned a profit of 168. Find the original selling price of the article.
Options Rs. 392.50
Rs. 518
Rs. 388.50
Rs. 350
Solution
Let's solve this step by step:
Step 1: Let's assume the cost price of the article is Rs. x.
Step 2: The shopkeeper marked the price 48% above the cost price. So, the marked price becomes Rs. x + 48% of x = Rs. 1.48x.
Step 3: He sold it after giving a discount of 25%. So, the selling price becomes Rs. 1.48x - 25% of 1.48x = Rs. 1.11x.
Step 4: If he sold the article without giving any discount, he would have earned a profit of Rs. 168. This means the marked price (1.48x) is Rs. 168 more than the cost price (x). So, we can write the equation as 1.48x = x + 168.
Step 5: Solving this equation, we get x = Rs. 350.
Step 6: So, the original selling price of the article (i.e., the price after giving a discount of 25%) is 1.11x = 1.11 * 350 = Rs. 388.50.
So, the correct option is Rs. 388.50.
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