A cycle merchant allows 20% discount on the marked price of the cycles and still makes a profit of 20%. If he gains Rs. 360 over the scale of one cycle and still makes a profit of 20%. If he gains Rs. 360 over the sale of one cycle, find the marked price of the cycle.
Rate of discount =20%
Total gain = Rs. 360
∴ Cost price =Rs.360×10020=Rs.1800
∴ Selling price = C.P + Profit
= Rs. 1800 + Rs. 360 = Rs. 2160
and M.P =S.P×100100−discount%