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    Question

    A shopkeeper marks up an item by 25%. If he

    increases the discount from 12% to 14%, the profit will decrease by Rs. 70. Find the selling price of the item in order to earn a profit of 40%.
    A Rs. 3920 Correct Answer Incorrect Answer
    B Rs. 2950.20 Correct Answer Incorrect Answer
    C Rs. 3172 Correct Answer Incorrect Answer
    D Rs. 3170 Correct Answer Incorrect Answer

    Solution

    Let, cost price of item be Rs. x.
    So, mark price = Rs. 1.25x
    According to question,
    1.25x [0.88 – 0.86] = 70
    1.25x = 3500
    x = 2800
    Therefore, required selling price = 2800 × 1.40 = Rs. 3920

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