A watch dealer pays 10% customs duty on a watch which costs

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A watch dealer pays 10% customs duty on a watch which costs

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A watch dealer pays 10% customs duty on a watch which costs Rs. 500 abroad. He desires to make a profit of 20% after giving a discount of 25% to the buyer.The marked price should be

1. Rs. 950
2. Rs. 800
3. Rs. 880
4. Rs. 660

Correct Option: C

Let the marked price of watch be Rs. y.
Actual C.P. of watch = 110% of 500
Actual C.P. of watch = Rs. 500 × 110 = Rs. 550
100

According to the question,
y × 75 = 550 × 120
100 100

⇒ y = 550 × 120 = Rs. 880
75