a jeweller allows a discount of 16% to his customers & still gains 20% . find the MP of a ring which cost him RS1190.

Cost Price of a ring = Rs. 1190

Let Selling Price be Rs. x and the marked price be Rs. y.

Overall gain = 20%

Since, his gain is 20% on the cost price therefore,

S.P = C.P +20% of C.P

Therefore, selling price = Rs. 1428

Now, after giving a discount of 16% on the Marked Price, the Selling Price of the ring is Rs. 1428.

Therefore, we can write

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