If a man bought an article at 20% less than its marked price and sold it for ₹10 more than its marked price, his profit was 40%. What was the marked price (in ₹) of the article (correct to two decimal places)?
₹83.33
Let the marked price be \(M\).
Cost price \(= 20\%\) less than marked price \(= 0.8\,M\).
Selling price \(= M + 10\).
A 40% profit means \(SP = 1.4 \times CP = 1.4 \times 0.8\,M = 1.12\,M\).
So \(M + 10 = 1.12\,M\), giving \(0.12\,M = 10\).
\(M = \frac{10}{0.12} = 83.33\) (to two decimal places).
Hence, the marked price is ₹83.33.
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