The marked price of a book is ₹2,400. A bookseller gives a discount of 15% on it. What will be the cost price (in ₹) of the book if he still earns a 20% profit?

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  1. 1,800
  2. 1,700
  3. 1,500
  4. 1,600

Answer (Detailed Solution Below)

Option 2 : 1,700
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Detailed Solution

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Given:

Marked Price (MP) = ₹2400

Discount percentage = 15%

Profit percentage = 20%

Formula Used:

Selling Price (SP) = MP - (Discount percentage × MP)

SP = Cost Price (CP) + (Profit percentage × CP)

Calculation:

Discount amount = 15% of ₹2400 = (15 / 100) × 2400 = ₹360

Selling Price (SP) = Marked Price - Discount = ₹2400 - ₹360 = ₹2040

The bookseller earns a 20% profit on the Cost Price, so:

Selling Price (SP) = CP + 20% of CP

₹2040 = CP + (20 / 100) × CP

₹2040 = CP + 0.20 × CP

₹2040 = 1.20 × CP

CP = ₹2040 / 1.20

CP = ₹1700

The cost price of the book is ₹1700.

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