On a bookshelf, a discount of 22% is given. If the rate of discount is increased by 10%, the selling price decreases by Rs. 264. The cost price is half of the marked price. Find the cost price of bookshelf.
1). Rs. 1320
2). Rs. 1980
3). Rs. 2640
4). Rs. 3960
Let the marked price of bookshelf be Rs. M.
We know, Selling Price = Marked price × (1 – (Discount Percentage)/100)
When discount of 22% is given, selling price = M × (1 – 22/100) = 0.78M
On increasing rate of discount by 10%, when discount of 32% is given, selling price = M × (1 – 32/100) = 0.68M
⇒ 0.78M – 0.68M = 264
⇒ M = 264/0.1 = 2640
The cost price is half of the marked price.
∴ Cost price = M/2 = Rs. 2640/2 = Rs. 1320