The marked price of an article is 20% above the cost price. When the selling price of an article is increased by 30% the profit doubles. If the marked price of an article is 480, then original selling price is.
A.531.15
B.537.14
C.571.4
D.582.12
E.None of these
a)
531.15
b)
537.14
c)
571.4
d)
582.12
e)
.None of these
Correct answer is option 'C'. Can you explain this answer?

Question

The marked price of an article is 20% above the cost price. When the selling price of an article is increased by 30% the profit doubles. If the marked price of an article is 480, then original selling price is.
A.531.15
B.537.14
C.571.4
D.582.12
E.None of these

a)
531.15
b)
537.14
c)
571.4
d)
582.12
e)
.None of these

Correct answer is option 'C'. Can you explain this answer?

Answer

Answer

Let's solve the problem step by step:

Step 1: Find the cost price
Since the marked price is 20% above the cost price, we can calculate the cost price by dividing the marked price by 1.2 (1 + 20% = 1.2).
Cost price = 480 / 1.2 = 400

Step 2: Find the selling price
When the selling price of an article is increased by 30%, the profit doubles. This means that the selling price is 100% + 100% = 200% of the cost price.
Let the selling price be x.
x = 2 * 400 = 800

Step 3: Find the original selling price
To find the original selling price, we need to reduce the selling price by 30%.
Original selling price = 800 - (30% of 800)
Original selling price = 800 - (0.3 * 800)
Original selling price = 800 - 240 = 560

Therefore, the original selling price is 560.

Answer: C. 571.4

Answer

Given MP = 120/100*CP. So, CP = 400.
SP -400 = P (Profit)
(130/100)*SP – 400 = 2P
Solving both equation we get, SP = 4000/7 = 571.4

Answer

Given MP = 120/100*CP. So, CP = 400.
SP -400 = P (Profit)
(130/100)*SP – 400 = 2P
Solving both equation we get, SP = 4000/7 = 571.4

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