A Shopkeeper marks an article at ₹ 60 and sells at a discount of 15%. He also gives a gift worth ₹ 3 . If the still makes 20% profit, the cost price is

₹ 22
₹ 32
₹ 40
₹ 42

Correct Answer: ₹ 40

Explanation:

∵ MP of the article = ₹ 60
SP of the article = [60 x (100 - 15)]/100
= (60 x 85)/100 = ₹ 51
Thus, actual SP of the article = (51 - 3) = ₹ 48
Hence, CP of the article = (48 x 100)/(100 + 20)
= (48 x 100)/120
= ₹ 40

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