Television purchase and resale: Rita bought a TV at 20% discount on the labelled price and later sold it for ₹16,800, making a profit of ₹800. What was the labelled price?
-
A₹ 10000
-
B₹ 20000
-
C₹ 20800
-
D₹ 24000
-
E₹ 18000
Answer
Correct Answer: ₹ 20000
Explanation
Introduction / Context:We relate cost price (after discount) to selling price and profit to recover the labelled (marked) price. The chain is: Labelled Price → 20% off → Cost Price → add profit → Selling Price.
Given Data / Assumptions:
- Buying discount = 20% on labelled price L ⇒ Cost Price (CP) = 0.80L
- Selling Price (SP) = ₹16,800
- Profit = ₹800 ⇒ CP = SP − Profit = ₹16,000
Concept / Approach:Equate CP from both descriptions to solve for L: 0.80L = 16,000 ⇒ L = 20,000.
Step-by-Step Solution:CP = SP − Profit = 16800 − 800 = 160000.80L = 16000 ⇒ L = 16000 / 0.80 = 20000
Verification / Alternative check:20% of ₹20,000 is ₹4,000; CP = ₹16,000. Selling at ₹16,800 gives ₹800 profit—consistent.
Why Other Options Are Wrong:They either understate or overstate the implied CP or profit when back-checked.
Common Pitfalls:Applying 20% to SP or mixing up profit addition/subtraction direction.
Final Answer:₹ 20000