Given:
The marked price of the article = ₹2,400
Discount allowed = 40%
Profit made = 20%
Formula Used:
Selling price = Marked price(MP) - Discount allowed
Profit = Selling price(SP) - Cost price(CP)
Solution:
According to question
Let MP be 100x
Discount= 40%
Selling Price = 100x - 40of 100x = 60x
From this SP = 60x, Still makes profit = 20%
So, CP = 60x = 50x
So, 100x = 2400
CP =50x = 2400 ÷ 100 × 50 = 1200
Alternate Solution:
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