If the selling price is Rs.1680 there is a loss of 16%, what should be the marked price on this product, if after allowing discount of 8% there is a profit of 15%?

Correct option is A

Given:

selling price = Rs.1680

Loss =16%

Formula Used:

Cost Price (CP) =  $$\frac{SP}{1 - \frac{\text{Loss Percentage}}{100}}$$​​

Solution:

Let the selling price (SP) =. 1680

loss percentage=16%. We need to find the cost price (CP) using the loss formula:

Cost Price (CP) = $$\frac{SP}{1 - \frac{\text{Loss Percentage}}{100}}$$​ 

CP =$$\frac{1680}{1 - \frac{16}{100}} = \frac{1680}{0.84} = 2000$$​​

Now, to find the marked price (MP), we know that after giving an 8% discount, there is a 15% profit. The relation between CP, MP, and discount is given by:

Marked Price (MP) =$$\frac{CP}{1 - \frac{\text{Discount Percentage}}{100}} \times (1 + \frac{\text{Profit Percentage}}{100})$$​​

MP =$$\frac{2000}{1 - \frac{8}{100}} \times (1 + \frac{15}{100}) = \frac{2000}{0.92} \times 1.15 = 2500$$​​

Thus, the marked price of the product should be Rs. 2500.