A seller marked his article 70% above the cost price and sold it after offering two successive discounts of 60% and 25% respectively. In the whole transaction the seller lost Rs. 980. Find the selling price of the article.
Let the cost price of the article be Rs. x Therefore, marked price of the article = Rs. 1.7x Selling price of the article = 0.4 × 0.75 × 1.7x = Rs. 0.51x According to the question, (x – 0.51x) = 980 Or, 0.49x = 980 Or, x = 2000 Therefore, selling price of the article = 2000 – 980 = Rs. 1020
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