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Mohit marked up an article by 60%. If he earned a profit of Rs. 720 after allowing a discount of Rs. 420, what is the cost price of the article?
  • a)
    Rs. 1500
  • b)
    Rs. 1700
  • c)
    Rs. 1900
  • d)
    Rs. 2100
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Mohit marked up an article by 60%. If he earned a profit of Rs. 720 af...
Given Data:
Cost price = ?
Mark-up = 60%
Profit earned = Rs. 720
Discount given = Rs. 420

Calculations:

Step 1: Calculate the Selling Price (SP)
Let the cost price be x.
Marked up price = Cost price + Mark-up
Marked up price = x + 0.60x = 1.60x
Selling price after mark-up = 1.60x

Step 2: Calculate the Selling Price after Discount
Selling price after discount = Selling price - Discount
Selling price after discount = 1.60x - 420

Step 3: Calculate the Profit Earned
Profit = Selling price after discount - Cost price
720 = (1.60x - 420) - x
720 = 0.60x - 420
0.60x = 1140
x = 1140 / 0.60
x = 1900
Therefore, the Cost price of the article is Rs. 1900.
Hence, option C is the correct answer.
Free Test
Community Answer
Mohit marked up an article by 60%. If he earned a profit of Rs. 720 af...
Let CP = 100x
MP = 160x
160x – 100x = 720 + 420
60x = 1140
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Mohit marked up an article by 60%. If he earned a profit of Rs. 720 after allowing a discount of Rs. 420, what is the cost price of the article?a)Rs. 1500b)Rs. 1700c)Rs. 1900d)Rs. 2100Correct answer is option 'C'. Can you explain this answer?
Question Description
Mohit marked up an article by 60%. If he earned a profit of Rs. 720 after allowing a discount of Rs. 420, what is the cost price of the article?a)Rs. 1500b)Rs. 1700c)Rs. 1900d)Rs. 2100Correct answer is option 'C'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about Mohit marked up an article by 60%. If he earned a profit of Rs. 720 after allowing a discount of Rs. 420, what is the cost price of the article?a)Rs. 1500b)Rs. 1700c)Rs. 1900d)Rs. 2100Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mohit marked up an article by 60%. If he earned a profit of Rs. 720 after allowing a discount of Rs. 420, what is the cost price of the article?a)Rs. 1500b)Rs. 1700c)Rs. 1900d)Rs. 2100Correct answer is option 'C'. Can you explain this answer?.
Solutions for Mohit marked up an article by 60%. If he earned a profit of Rs. 720 after allowing a discount of Rs. 420, what is the cost price of the article?a)Rs. 1500b)Rs. 1700c)Rs. 1900d)Rs. 2100Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for SSC CGL. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free.
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