A dealer marked the price of an item 40% above the cost price. He allowed two successive discounts of 20% and 25% to a particular customer. As a result he incurred a loss of Rs. 448. At what price did he sell the item to the said customer?

Answer: Option B

Let the cost price be Rs. 100
Then, CP = 100 means MP = 140
20% discount = 112 25% discount (SP = Rs. 84)
If Rs. 16 loss, cost price Rs. 100
If Rs. 448 loss, cost price = $$\frac{100}{16}\times 448$$
= 28 x 100 = Rs. 2800
Selling Price = $$\frac{2800\times 84}{100}$$   = Rs. 2352