Question
A retailer sells an item at 20% profit after giving a 20% discount on the marked price. If the cost is Rs. 800, what is the marked price?
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Correct Answer: A. Rs. 1,200
Explanation:
A 20% profit gives a selling price of Rs. 960.
Since this is 80% of marked price, marked price = 960/0.8 = Rs. 1,200.
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