Marked price of an article is 70% more than its cost price. After giving a discount of 10%, article is sold for ₹ 1071. What will be the cost price of the article?

Options

A. ₹ 530
B. ₹ 590
C. ₹ 700
D. ₹ 620

Answer

To solve the problem step by step, we will follow the information given in the question and derive the cost price of the article.

### Step 1: Define the Variables
Let the cost price (CP) of the article be \( x \).

### Step 2: Calculate the Marked Price (MP)
According to the question, the marked price is 70% more than the cost price. Therefore, we can express the marked price as:
\[ MP = CP + 70\% \text{ of } CP = x + 0.7x = 1.7x \]

### Step 3: Determine the Selling Price (SP)
The article is sold after giving a discount of 10% on the marked price. The selling price can be expressed as:
\[ SP = MP - 10\% \text{ of } MP = MP - 0.1 \times MP = 0.9 \times MP \]
Substituting the expression for MP:
\[ SP = 0.9 \times (1.7x) = 1.53x \]

### Step 4: Set Up the Equation Using the Selling Price
We know from the question that the selling price is ₹1071. Therefore, we can set up the equation:
\[ 1.53x = 1071 \]

### Step 5: Solve for the Cost Price (CP)
To find \( x \), we will divide both sides of the equation by 1.53:
\[ x = \frac{1071}{1.53} \]

### Step 6: Calculate the Value
Now we perform the division:
\[ x = 700 \]

### Conclusion
The cost price of the article is ₹700.

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