Question

A shopkeeper sold sarees at $\text{Rs.}266$ each after giving a $5\%$ discount on labeled price. Had he not given the discount, he would have earned a profit of $12\%$ on the cost price. what was the cost price of each saree?

• A. $\text{Rs.}240$
• B. $\text{Rs.}260$
• C. $\text{Rs.}280$
• D. Date indepequate
• E. None of these

Answer 1

Answer: (E)

None of these

Let us assume that the labeled price is equal to $x$.

$\frac{95}{100}\times x=266$

$\Rightarrow x=\text{Rs.}280$

Now consider that the cost price of the saree is equal to $y$. Then,

$\text{Profit}\%=12=\frac{(280-y)\times 100}{y}$
$\begin{array}{c}\Rightarrow 12y=28000-100y\\ \Rightarrow 112y=28000\\ \Rightarrow y=\text{Rs.}250\end{array}$

Hence, option $D$ is the correct answer.