A shopkeeper marks the price of an article in such a way that after allowing a discount of 22%, he gets a gain of 11%. If the marked price is Rs.888, then the cost price of the article is:
Answer & explanation
Correct answer: option 1
Marked price of the article = Rs. 888
SP of the article = 888 × \(\frac{78}{100}\) = 692.64
∴ CP of the article = 692.64 × \(\frac{100}{111}\) = 624