A dealer buys an article listed at ₹3,000 and gets successive discounts of 15% and 15%. He spends ₹250 on transportation and sells it at a profit of 20%. Find the selling price of the article.
Answer & explanation
Correct answer: option 2
Marked price = ₹3,000
Discount 15% = \(\frac{3}{20}\)
Cost price for the dealer = ₹3,000 × \(\frac{17}{20}\) × \(\frac{17}{20}\) + 250 = 2417.5
Selling price for the dealer at 20% profit = 2417.5 × \(\frac{6}{5}\) = ₹2,901