A merchant marked the price of an article by increasing its production cost by 40%. Now he allows 20% discount and gets a profit of Rs. 48 after selling it. The production cost is = ?

\[\begin{gathered} {\text{CP }}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{SP}}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ MP}} \hfill \\ 100\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,112\,\,\xleftarrow[{ - 20\% }]{}\,\,\,\,140 \hfill \\ \end{gathered} \]
$$\eqalign{ & {\text{Profit}} = 112 - 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 12{\text{units}} \cr & {\text{12 units}} = {\text{ Rs}}{\text{.}}\,{\text{48}} \cr & {\text{1 unit}} = {\text{Rs}}{\text{.}}\,{\text{4}} \cr & {\text{So, CP}} = {\text{100 units}} = {\text{Rs}}{\text{.400}} \cr} $$