A dealer purchased a washing machine for ₹15,700. He allows a discount of 16% on its marked price and still makes a profit of 20%. Find the marked price (nearest in ₹) of the washing machine.

Correct option is D

Given:

Cost price of the washing machine = ₹15,700

Discount allowed = 16%

Profit made = 20%

Formula Used:

Selling Price (SP) = Cost Price (CP) + Profit

Discounted Selling Price = Marked Price (MP) – Discount

​Solution:​

SP = 15700 + 0.$$20 \times 15700 = 15700 + 3140 = 18840$$​

SP = MP - (M$$P \times 0.16) = MP \times (1 - 0.16) = MP \times 0.84$$​​

We know the selling price after the discount is

18840 = MP$$\times 0.84$$​

MP $$= \frac{18840}{0.84}$$​ $$\approx 22,429$$​

Thus, the marked price of the washing machine is ₹22,429.