An item costing Rs. 500 is being sold at a 17% loss. If the price is further reduced by 20%, then find the selling price.

Correct option is A

Given:​
Cost Price (CP) of the item = Rs. 500
Loss percentage = 17%
Further price reduction = 20%
Selling Price (SP) = ?
Formula Used:
 Selling Price after initial loss = Cost Price × (1 - Loss Percentage)
 Selling Price after further reduction = Initial Selling Price × (1 - Further Reduction Percentage)
Solution:
 Calculate the initial selling price after 17% loss:
​$$\text{Initial SP} = 500 \times (1 - 0.17)\\\text{Initial SP} = 500 \times 0.83 = 415$$​​
2. Calculate the final selling price after further 20% reduction:
​$$\text{Final SP} = 415 \times (1 - 0.20)\\\text{Final SP} = 415 \times 0.80 = 332$$​​