A dealer’s cost price for each fan he would like to sell is Rs 2,000. After allowing a discount of 20% on its marked price, he gains 20%. His marked price of the fan is :
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Rs 5,000
Incorrect AnswerRs 2,500
Incorrect AnswerRs 4,000
Incorrect AnswerExplanation:
- The dealer wants to sell each fan at a cost price of Rs 2,000.
- He allows a discount of 20% on the marked price.
- Even after the discount, he gains 20% on the cost price.
- To gain 20%, the selling price should be 120% of Rs 2,000, which is Rs 2,400.
- Let the marked price be \( x \).
- After a 20% discount, the selling price is 80% of the marked price \( x \), giving us \( 0.8x = 2,400 \).
- Solving \( 0.8x = 2,400 \) gives \( x = 3,000 \).
? Correct Answer: Option 3 (Rs 3,000)
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By: Parvesh Mehta