After allowing a discount of 15%,the value of a washing machine is Rs.29750. If no discount is allowed the shopkeeper gains 12%. What is the cost price of the washing machine? (1 Point)Rs. 31500Rs. 32000Rs. 31750Rs. 31250

The given problem can be solved in the following steps:

Step 1: The washing machine is sold for Rs. 29750 after a discount of 15%. This means the price before the discount was higher. To find the original price (before discount), we can use the formula:

Original Price = Discounted Price / (1 - Discount Rate)

Here, the Discounted Price is Rs. 29750 and the Discount Rate is 15% or 0.15. Substituting these values in the formula, we get:

Original Price = 29750 / (1 - 0.15) = Rs. 35000

Step 2: The problem also states that if no discount is allowed, the shopkeeper gains 12%. This means the original price we calculated is 112% of the cost price. We can use this information to find the cost price:

Cost Price = Original Price / (1 + Gain Percentage)

Here, the Original Price is Rs. 35000 and the Gain Percentage is 12% or 0.12. Substituting these values in the formula, we get:

Cost Price = 35000 / (1 + 0.12) = Rs. 31250

So, the cost price of the washing machine is Rs. 31250.