Discussion
On selling an item with 10% discount on maximum retail price (MRP), a shopkeeper gets 8.5% profit. What is the cost of the item (in ₹), if the MRP is ₹140?
Answer: B
The cost of the item is Rs. 116.13 (to the nearest paisa). With a 10 per cent discount on the MRP of Rs. 140 the selling price is 140 x 0.90 = Rs. 126. A profit of 8.5 per cent means selling price = 1.085 x cost, so \[\text{cost} = \frac{126}{1.085} \approx 116.13\] The options 129.30, 126.30 and 113.13 do not satisfy this: for example a cost of 113.13 would give a profit of 11.4 per cent.
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