NIFT PG 2020 Question Paper with solutions

Question : 25 of 150

Marks: +1, -0

A dealer fixed the price of an article

40 \%

above the cost of production. While selling it he allows a discount of

20 \%

and makes a profit of

₹ 48 .

The cost of production (in ₹) of the article is

Solution:

Let the cost price be

₹ x

∴ x × \;{140}/{100} × \;{80}/{100}-x=48

⇒ \;\; 1.12 x-x=48

⇒ \;\; 0.12 x=48

⇒ \;\; x=\;{48}/{0.12}=400

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