Explanation:

- Let's break it down step by step:

- The initial discount of 25% is given on the labelled price.

- The post-discount price is then further reduced by an additional 12%.

- Final selling price after both discounts is Rs. 792.

- Let the labelled price be $x$.

- After 25% discount, the price is $x\times (1-0.25)=0.75x$.

- Then a 12% discount is applied: $0.75x\times (1-0.12)=0.75\times 0.88\times x=0.66x$.

- The calculated selling price is $0.66x=792$.

- Solving for $x$:

$$0.66x=792$$

$$x=\frac{792}{0.66}$$

$$x=1200$$

- The correct labelled price is 1200.