$A$ dealer fixed the price of an article $40 \%$ above the cost of production. While selling it,he allows a discount of $20 \%$ and makes a profit of $Rs. 48$. The cost of production (in $Rs.$) of the article is:

  • A
    $360$
  • B
    $420$
  • C
    $400$
  • D
    $320$

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