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A merchant purchases a watch for Rs. 560 and fixes its marked price in such a way that after allowing a discount of 20%, he earns a profit of 40%. What is the marked price (in Rs) of the watch?
- A600
- B980
- C660
- D750
Answer not set
Discussion 1
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CCommunity
Cost price = C.P = 560
Marked price = M.P
After discount of 20%,
Selling price = S.P = 0.8 × M.P
Profit = 40%
S.P = 1.4 × C.P = 1.4 × 560 = 784
S.P = 784
⇒ 0.8 × M.P = 784
⇒ M.P = 784/0.8 = 980
Marked price of the watch = Rs. 980
Marked price = M.P
After discount of 20%,
Selling price = S.P = 0.8 × M.P
Profit = 40%
S.P = 1.4 × C.P = 1.4 × 560 = 784
S.P = 784
⇒ 0.8 × M.P = 784
⇒ M.P = 784/0.8 = 980
Marked price of the watch = Rs. 980