A furniture store marks its items at 80% above the cost price. They offer a discount of 30% on the marked price. If a customer receives an additional loyalty discount of ₹250, and the store still makes a 12% profit on the cost price, what is the cost price of the furniture item?
₹1,785.71
Step 1 – Marked price: \(\text{MP} = 1.8 \times \text{CP}\)
Step 2 – SP after 30% discount:
\(\text{SP}_1 = 1.8\text{CP} \times 0.70 = 1.26\text{CP}\)
Step 3 – SP after loyalty discount of ₹250:
\(\text{SP}_2 = 1.26\text{CP} - 250\)
Step 4 – Set equal to 12% profit:
\(1.26\text{CP} - 250 = 1.12\text{CP}\)
\(0.14\text{CP} = 250 \implies \text{CP} = \frac{250}{0.14} = \mathbf{₹1{,}785.71}\)
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