Answer:
MP = Rs. 978.72
The market price of the article is Rs. 978.72
Explanation:
Let MP represents the market price.
Let SP represents the selling price.
Let CP represents the cost price.
if an article is sold with 20% discount then there will be a profit of 15%.
0.80MP = 1.15CP
0.80MP - 1.15CP = 0
If it is sold at 10% discount then there will be a profit of Rs.200
0.9MP - CP = 200
We are asked to find the market price of an article.
0.9MP - CP = 200
0.9MP×1.15 - 1.15CP = 200 ×1.15
1.035MP - 1.15CP = 230
But 1.15CP = 0.80MP
1.035MP - 0.80MP = 230
0.235MP = 230
MP = 230/0.235
MP = Rs. 978.72
Therefore, the market price of the article is Rs. 978.72