A seller marked his article 80% above the cost price and sold it after offering two successive discounts of 60% and 20% respectively. In the whole transaction the seller lost Rs. 530. Find the selling price of the article.
Let the cost price of the article be Rs. x Therefore, marked price of the article = Rs. 1.8x Selling price of the article = 0.4 × 0.8 × 1.8x = Rs. 0.576x According to the question, (x – 0.576x) = 530 Or, 0.424x = 530 Or, x = 1250 Therefore, selling price of the article = 1250 – 530 = Rs. 720
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