On the marked price of an item, two successive discounts of 10% each are offered and a profit of 10% is earned. The marked price of the item is approximately ________ times its cost price.

Correct option is C

Given:

Two successive discounts of 10% each

Profit earned = 10%

Formula Used:

Successive Discount Formula:

Net Discount = $$a + b - \frac{ab}{100}$$​​

Solution: 

Net Discount = $$10 + 10 - \frac{10 \times 10}{100} = 19\%$$​​

Now, SP = 81% of MP

Profit = 10%, so:

SP = 110% of CP

Now, 

81% of MP = 110% of CP

​$$\frac{81}{100} \cdot MP = \frac{110}{100} \cdot CP$$​​

​$$MP = \frac{110}{81} \cdot CP \approx 1.36 \cdot CP$$​​

Thus,  The marked price is approximately 1.36 times the cost price.