After allowing a discount of 20% on the marked price of an article, it is sold for ₹500. Find its marked price.

Correct option is C

Given:

Discount given =20%

Selling price of article = ₹500

Formula Used:

Discount  = $$\frac{Discount\ Percentage}{100} \times Marked Price$$​​

Selling Price = Marked Price - Discount

Solution:

Let the marked price be x​​

Then,  discount =$$\frac{20}{100} \times x = 0.2x$$​​

Selling Price =$$x - 0.2x = 0.8x$$​​

But:

​$$0.8x = 500$$​​

​$$x = \frac{500}{0.8} = ₹625$$ 

Thus, the marked price of the article is ₹625

Alternative Method:

Let the Marked Price be 100unit

Then,  SP = 100 - 20% of 100 = 80

​$$80\ unit = 500$$​​

​$$1 \ unit = \frac{500}{80}$$​​

​$$100\ unit = \frac{500}{80} \times100 = ₹625$$​​