The cost price of an article is ₹280. A shopkeeper sells it by allowing 16% discount on its marked price and still gains 20%. What is the marked price(in ₹) of the article?
Answer & explanation
Correct answer: option 1
Cost price of the article = Rs. 280
Selling price of the article = Rs. 280 × \(\frac{120}{100}\) = Rs. 336
Marked price of the article = Rs. 336 × \(\frac{100}{84}\) = Rs. 400