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The marked price of an item is Rs.500 on a discount of 5% and still makes a profit of 25%. Find the cost price of the item.

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Rs.350

Rs.360

Rs.380

Rs.390

answer is C.

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Detailed Solution

Given that,
The marked price of an item = Rs500.
Discount on the item = 5%.
Therefore, Discount = Discount % of Marked price.

⇒ Discount = 5% of Rs .500 ⇒ Discount = 5100 × 500 ⇒ Discount = R s .25.

We know that,
Discount = Marked price - Selling price.
Therefore, selling price =

= R s . (500 − 25) = R s .475.

Therefore, the selling price of an item is Rs.475.
It is given that there is a profit of 25%.
Let the cost price of the item is

x .

Since, Gain = Selling price - Cost price

⇒ Gain = R s . 475 − x

∵ Gain % = Gain Cost price × 100 %

⇒ 25 % = 475 − x x × 100 % ⇒ x = 475 − x 25 × 100 ⇒ x = 475 − x × 4 ⇒ 5 x = 1900 ⇒ x = 380.

Therefore the cost price of the item is Rs.380.
Hence, option (3) is correct.

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