An article is marked at ₹800. A shop owner allows a discount of 12% and still gains 8%. What is the approximate cost price of the article?

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An article is marked at ₹800. A shop owner allows a discount of 12% and still gains 8%. What is the approximate cost price of the article?

A₹640

B₹652

C₹660

D₹680

Answer:

B. ₹652

Read Explanation:

Marked Price (MP) = ₹800
Discount = 12%

Find Selling Price (SP)

$SP = 800 \times (1 - 0.12) = 800 \times 0.88 = 704$

Use profit condition

Profit = 8%

So,
$SP = 108\% \text{ of CP} = 1.08 , CP$
$704 = 1.08 , CP$

Find CP

$CP = \frac{704}{1.08} \approx 651.85$

Final Answer:

Approximate cost price ≈ ₹652

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